Page 15 - GXO New Hire Guide
P. 15
Triple tax advantages
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HSA HCFSA
Pre-tax contributions
Your contributions to the account are made on a pre-tax basis. Contributions can be made up to the 2021 IRS limits shown here.
Individual:$3,600 Employee + One or More:$7,200
Age 55 or Over: + $1,000
$2,750
Tax-free earnings
All earnings on the money in your account grow tax-free.
Tax-free withdrawals
When you use the money to pay for qualified medical expenses, the withdrawals are tax-free.
GXO contributions to the HSA
If you elect the HSA Plus medical option, GXO contributions are prorated based on when you become eligible for benefits. GXO contributions are funded once a quarter and can be deposited only after you’ve opened your account at Fidelity Investments. Details are on the enrollment site.
Benefits Eligibility GXO Contribution Amount (Percentage)
October 1–November 30 $125 (25%) $250 (25%)
Accounts I 13
INDIVIDUAL
EMPLOYEE + ONE OR MORE
January 1–March 31
$500 (100%)
$1,000 (100%)
April 1–June 30
$375 (75%)
$750 (75%)
July 1–September 30
$250 (50%)
$500 (50%)
