Part II: Enroll in the BlueEdge CDHP Medical Plan and Establish a Health Savings Account (HSA)
A. Enroll in the BlueEdge CDHP Plan
Use the on-line benefits enrollment application through Campus Connection to sign up for the BlueEdge CDHP.
You will receive a BlueCross BlueShield Health Plan Identification Card and a welcome kit from Mellon Bank with information about your HSA in the mail after you enroll.
B. Understand the Contribution Possibilities Related to Your Enrollment in the Plan
Once you enroll in the CDHP and open an HSA, DePaul will make an annual contribution and you can make tax-free contributions into your HSA each year you are enrolled. These contributions can be used to cover deductibles and co-insurance. Once you meet the annual deductible and co-insurance amounts, the plan pays for the rest. Refer to the Health Benefits Plans Summary Plan Description for more details on the BlueEdge HSA.
Maximum Contribution Restrictions-Employees not HSA eligible for the entire plan year in which they are making contributions must be HSA eligible in December of the plan year and remain eligible for the next 12 months in order to make the maximum contribution. If an employee is not eligible for the requisite period, then the employee will become subject to the approximate tax rules and excess contributions will be subject to regular taxes as well as an excise tax. You may want to review the IRS Resource Center and / or consult your tax advisor before you increase your contributions.
C. Establish a Health Savings Account with ACS Mellon Bank (if necessary)
After you enroll in the BlueEdge HSA on the Campus Connection Benefits Enrollment Application, submit an application for an HSA as described below. Mellon Bank will process your application approximately two to three weeks after you enroll in the BlueEdge CDHP HSA Medical Plan. You will only need to create an account through Mellon Bank once, even if you reenroll in the BlueEdge CDHP Medical Plan year after year. After you enroll in the BlueEdge CDHP, you will receive a welcome kit from Mellon Bank, including your new account number and instructions to set up your account with Mellon.
Open your HSA account with Mellon Bank by visiting the Advantage Direct enrollment site or wait for your welcome packet with instructions to be delivered to your home within a few weeks of enrolling in the BlueEdge CDHP Medical Plan. Once your HSA is established, you will receive a debit card in the mail for use with your account.
IMPORTANT: If you do not establish a bank account, DePaul University will not be able to make the employer contribution to your HSA and you will not be able to elect pre-tax HSA salary reductions from your pay. Additionally, you may forfeit your right to receive an employer contribution for the year.
Click here for a listing of fees associated with the ACS/Mellon HSA: 2015 Benefit Wallet HSA Fee Schedule
D. Making Mid-year Changes to Your Health Saving Account Contributions
You may change the amount of your Health Savings Account pre-tax deduction at any time. To make mid-year changes complete the DePaul University Health Saving Account (HSA) Contribution Election Change Form and submit it to Human Resources.