Health Savings Account (HSA)

• Any money you contribute is yours. The account is separate from your health plan, and you can take it with you if you leave Synopsys.
• You can use your savings at any time — now or in the future.
• There are no deadlines forcing you to spend your savings by a certain date.
• You don’t lose unspent savings. Money you don’t spend in the current calendar year will continue to be available in the future.
• You can change your contribution amount at any time during the year.

• Contributions, interest earned on investments, and withdrawals are not taxed.

  If you live in California or New Jersey, contributions and earnings are subject to state tax.

• Your account balance earns interest every month, so you’ll have extra savings when you need it.
• Your money will grow tax-free until you use it, so you can build your savings.
• You can invest your account balance in mutual funds, stocks, or bonds.

• Synopsys will cover your account fees as long as you’re an active employee.
• Synopsys makes no contributions to the HS Basic Plan. It’s designed for employees looking to maximize their own tax savings.
• If you’re in the HS Standard Plan, Synopsys will contribute up to $750 if you have employee-only coverage and up to $1,500 if you cover dependents, even if you make no contributions to your account. (The HSA employer contribution is funded up front. If you’re a new hire, the amount will be prorated based on your hire date.)
• If you’re in the HS Premium Plan, Synopsys will contribute up to $1,000 if you have employee-only coverage and up to $2,000 if you cover dependents, even if you make no contributions to your account. (The HSA employer contribution is funded up front. If you’re a new hire, the amount will be prorated based on your hire date.)

You can make pretax or after-tax contributions to your account.

• Pretax contributions are deducted automatically from your paycheck. You can change your contribution amount at any time during the year.
• You can also make after-tax contributions by submitting a check or transferring funds online directly to your Fidelity HSA. After-tax contributions are tax deductible until you reach the maximum contribution limit. Log in to your Fidelity account to learn more.

You can also transfer savings from another HSA or make a one-time qualified HSA funding distribution from an IRA. Log in to your Fidelity account to learn more.

To make changes to your pretax contributions, log in to Benefitsolver.

Maximum contribution limits are set by the IRS and may vary each year. You can increase or decrease your HSA contributions at any time during the year. Note: If you’re age 55 or older, you can make an additional catch-up contribution of $1,000.

You can use your HSA to pay for these health care expenses:

• Health plan deductibles and coinsurance
• Most medical care and services
• Dental and vision care
• Prescription drugs and insulin
• Medicare premiums (if age 65 or older)

View a list of qualified medical expenses that your HSA can cover.

Note: The IRS has rules for spouses and dependents that are different from the eligibility rules for medical plan coverage. For example, you can cover an adult child up to age 26 and a domestic partner in your medical plan, but you cannot use your HSA for their expenses if they are not your tax dependents. Consult your tax advisor, or refer to the Whose Medical Expenses Can You Include section in IRS publication 502.

You have three options for paying for your health care expenses with your HSA:

• Pay your doctors, pharmacies, and other providers directly, using your Fidelity HSA Visa card.
• Pay online through Fidelity NetBenefits. Go to Paying and select Pay an Expense. After you agree to use Bill Pay, you can add a provider (payee). 
• Pay from your personal bank account, and reimburse yourself later through Fidelity NetBenefits.