BMC restricts payroll deductions and contributions (BMC’s and yours) to ensure you do not exceed the annual IRS limits. But if you deposit a personal check into your HSA that results in you exceeding the annual limits, BMC will not automatically turn off your payroll deductions. You are responsible for:
HSA Annual Limits for 2015
For 2015, you are only allowed to deposit $3,350 for single coverage ($6,650 for family coverage) to your HSA. And you can contribute $1,000 more if you are 55 or older. These limits include BMC contributions to your account. If you don’t reach the contribution limit during the year, you can make a tax-deductible contribution directly to your HSA at UMB Bank before the federal income tax filing deadline on April 15, 2016.
If You Over Contribute
If you contribute more to your HSA than what the IRS allows, you have an “excess contribution.”
Remember, if at any time during the year you stop meeting the HSA eligibility requirements — for example you switch to the PPO or HMO medical plan or enroll in Medicare — you are no longer eligible to contribute to your HSA. You can, however, still continue to use the money in your account for eligible medical expenses.
How to Change Your HSA Contribution
You can change your HSA contribution any time during the year. Log on to My BMC Benefits & Compensation, click on Your Benefits Resources and follow these steps to make the change. You can also call 1-877-262-4849 and select Your Spending Accounts.
MyBMC Rewards provides a snapshot of your pay, retirement benefits, health and insurance benefits and corporate programs. Visit MyBMC Rewards to:
Go online anytime or call 877-262-4849. Representatives are available from Monday through Friday, 8 a.m. to 9 p.m., Eastern time.
From enrollment reminders to important 401(k) information and benefits updates, you can be the first to know when your attention or action is required.
The content on this site includes links to tools and information that are not the property of BMC Software, and BMC Software is not responsible for their accuracy, completeness or continued availability. Some of the material contained in this site is based on official plan documents. It is not, nor is it intended to be, the legal plan document or a contract between the company and any employee or contractor. Every effort has been made to ensure the accuracy of this material. In the unlikely event that there is a discrepancy between the site and the official plan documents, the official plan documents will control. BMC Software reserves the right to amend or terminate the plan(s) or program(s) at any time. If you believe the benefits do not describe those available to you, contact the Benefits Center at 877-BMC-4849.
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