BNY Mellon Benefits Guide
Plan HRA (Health Reimbursement Account)
HRA Contributions
The HRA feature includes a contribution from BNY Mellon to help you pay for qualified health care expenses. BNY Mellon contributions are tax-free. You cannot save your own money in the Health Reimbursement Account; only BNY Mellon can put money in your account. If you don't use all of the money in your HRA, your account balance rolls over from one year to the next.
If you leave BNY Mellon for any reason before the age of 55, your HRA balance is forfeited, unless you continue Plan HRA medical coverage under COBRA. If you terminate employment with BNY Mellon before the age of 55 and do not continue Plan HRA medical coverage under COBRA, you may submit claims for expenses incurred through the end of the month in which you left. In addition, if you change to a BNY Mellon sponsored health plan that does not have the HRA, your HRA becomes a Limited Purpose HRA, which can only be used to pay dental, vision, preventive prescription drugs and out-of-network preventive care expenses, or other qualified health care expenses after you have met your new plan's annual deductible. If you are at or over the age of 55 when you leave BNY Mellon, your HRA balance remains available for reimbursement of eligible dental, vision, preventive prescription drugs and out-of-network preventive care expenses.
BNY MELLON'S ANNUAL CONTRIBUTION (AUTOMATIC)
ANNUAL BASE PAY
EMPLOYEE ONLY*
EMPLOYEE + CHILD(REN),
EMPLOYEE + SPOUSE/DOMESTIC PARTNER OR
EMPLOYEE + FAMILY*
Under $30,000
$700
$1,400
$30,000-$39,999
$600
$1,200
$40,000-$49,999
$500
$1,000
$50,000-$79,999
$400
$800
$80,000 and above
$200
$400
* If you join BNY Mellon after the beginning of the 2018 plan year, BNY Mellon's contribution will be pro-rated.
Additionally, if you are enrolled in Plan HRA or Plan HSA in 2018, you and your covered spouse/domestic partner may each earn up to $600 in health account deposits to your 2018 HRA or HSA by participating in certain wellbeing activities. See "Health and Wellbeing" in the Welcome to BNY Mellon section for more information.
Proration of BNY Mellon HRA or HSA Contribution
If you join BNY Mellon after the beginning of the 2018 plan year, BNY Mellon's contribution to your HRA or HSA will be prorated. To determine your prorated BNY Mellon contribution, find the proration factor corresponding to your month of benefit eligibility. Then find the BNY Mellon annual account contribution corresponding to your base pay and coverage level and multiply the contribution by the proration factor.
PRORATION OF BNY MELLON CONTRIBUTIONS TO HSA AND HRA ACCOUNTS IN 2018
HIRE/BENEFIT ELIGIBILITY MONTH
NUMBER OF MONTHS COUNTED TOWARD CONTRIBUTION AMOUNT
PRORATION FACTOR
November/December 2017
12
1.00
January 2018
11
0.92
February
10
0.83
March
9
0.75
April
8
0.67
May
7
0.58
June
6
0.50
July
5
0.42
August
4
0.33
September
3
0.25
October
2
0.17
November
1
0.08
December
0
0.00
HRA Debit Card Convenience
The HRA is administered by Alight. When you elect to participate in Plan HRA, you can use the "Your Spending Account" debit card to pay for qualified health care expenses at the point of purchase, or pay out-of-pocket and submit a claim for reimbursement. This is the same debit card as the one used for the Health Care FSA (if you elect the Health Care FSA). If you also have a Health Care FSA and you choose to pay from your account, your Health Care FSA will pay first.
Using the debit card saves you the inconvenience of paying for an expense out-of-pocket, filing a claim and waiting for reimbursement. Because all contributions to your HRA have been made on or before your first pay date following your plan effective date, you can begin using your card starting on your plan effective date.