Your IngredionRewards include several options for saving for future medical expenses as well as when your make purchases for your health needs.
Health Savings Account or HSA
If you enroll in the Health Savings Plan (HSP), you'll complete the Fidelity account opening acknowledgement. Once complete and account is opened, Fidelity will mail a welcome kit to your home address with instructions on how to access any funds you have deposited into your HSA. The opening/confirmation of your HSA account is done online at www.401k.com (NetBenefits). Once you complete the account opening process, you will receive a debit card from Fidelity that you can use to pay for medical expenses directly from your HSA.
IRS maximum contribution for 2020: $3,550 (single coverage) - $7,100 (family coverage).
Note: Any funds left in your HSA each year remain in your HSA for future years.
HSA Tax Advantages
You can save money when you enroll in and use your HSA for eligible medical expenses! These accounts have tax advantages because you pay no taxes on:
Contributions you make to the account
Account interest or investment earnings
Money you withdraw to pay for eligible medical expenses