Turning Age 65
Following Open Enrollment
Interest Rate and Fund Fact Sheets
Bank of America, N.A. ©2009 Bank of America Corporation 00-09-1116NSB (11/2009)
Would you like to see what your HSA balance could look like over the next 10, 20 or 30 years? Bank of America offers an online tool that can help you see how your HSA savings can add up. To access this tool visit bankofamerica.com/benefitslogin and click on the HSA Calculator under Tools and Resources.
GM is paying the administrative fee for your HSA as long as you are:
enrolled in an HSA-qualified medical plan
not enrolled in Medicare
enrolled in the Bank of America HSA in 2010
GM will pay your monthly administrative fee for your Bank of America HSA as long as you are a retiree under age 65 and are enrolled in GM’s HSA-qualifed medical plan. GM will not pay the monthly administrative fee for any other HSAs you may have.
If you enroll in a consumer directed health plan and turn age 65 during the plan year, the IRS requires you to cease your HSA contributions. GM will pay your monthly administrative fee as long as you are a retiree under age 65 and are enrolled in one of the Health Savings Account medical plans.
Once you have enrolled in the Bank of America HSA, Bank of America will mail these items to you: HSA Welcome Kit
This welcome kit will explain how to manage your HSA. You will need to follow the instructions to set up your online ID so you can conveniently access and manage your HSA online anytime to check your balance, order cards for your spouse or dependents or to request payment to a health care provider.
HSA Visa® Debit Card
Your HSA Debit Card allows you to easily pay for eligible health care expenses directly from funds in your HSA. Be sure to activate your debit card as soon as you receive it by following the instruc- tions on the label affixed to your card.
Funds in your Bank of America HSA cash account will earn interest and when your balance reach- es $1,000 you may choose to invest funds above that level in a wide range of mutual funds with varying levels of related risk and returns.* Bank of America offers 15 different investment choices for GM salaried employees and retirees. A fund overview chart and investment return information is included below.
*Investments in mutual funds: Are Not Bank Issued • Are Not FDIC Insured • May Lose Value • No Bank Guarantee