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UnitedHealthcare <br /> Corporate Facts <br /> - Incorporated in 1977 <br /> - Serves more than 70 million Americans, including the following groups in NC <br /> o Progress Energy <br /> o Duke Energy <br /> o Guilford County <br /> o City of Greensboro <br /> o Rockingham County, <br /> o Columbus County <br /> o Delta <br /> o Cisco <br /> o Time Warner <br /> - Oversees approximately $120 billion in health care spending annually <br /> - Serves all 50 States (including over 920,000 North Carolinians) <br /> - United Health Group, UnitedHealthcare's parent company, is one of the largest health <br /> care services companies in the U.S. <br /> Reputation and Recognition <br /> - Fortune Magazine ranked United Health Group #1 in the 2010 rankings of the Most <br /> Admired Companies in America for innovation in the health insurance and managed <br /> care sector. <br /> Health Savings Accounts (HSA): Overview <br /> A health savings account (HSA) is a tax-favored savings account created for the purpose of <br /> paying medical expenses. <br /> - Tax-deductible <br /> Contributions to the HSA are 100% deductible (up to the legal limit). <br /> - Tax-free <br /> Withdrawals to pay qualified medical expenses are never taxed. <br /> - Tax-deferred <br /> Interest earnings accumulate tax-deferred, and if used to pay qualified medical <br /> expenses, are tax-free. <br /> - HSA money are employee accounts <br /> HSA contributions aren't forfeited at the end of the year; funds continue to grow, tax- <br /> deferred. <br /> Qualifying for a Health Savings Account: <br /> - Requires Coverage under a High Deductible Health Plan (HDHP) <br /> - Cannot have any other health plan coverage (TriCare, Medicare) that is not an HDHP <br /> - Cannot be enrolled in Medicare <br /> - Cannot be claimed as a dependent on another person's tax return <br /> High Deductible Health Plan (HDHP) <br /> - Has a deductible of at least $1,200 for individual coverage and at least $2,400 for <br /> family coverage. These amounts are adjusted periodically. <br /> - Costs less than "traditional" plans. <br />