With some fairly simply planning, you can boost your financial well-being in 2018—especially since the IRS increased the 401(k) contribution limit. Individuals can now contribute $18,500 per year before tax (a $500 increase from 2017).
For the large majority of BMC employees who are enrolled in the HSA medical plan, the IRS annual contribution limit for HSA accounts also increased in 2018. Individuals can now contribute $3,450 per year (a $50 increase from 2017), while those with family coverage can sock away up to $6,900 (a $150 increase from last year). An HSA allows you to save money on a before-tax basis. Once you reach age 65, you can use that money anytime in the future on medical expenses; you’re never taxed on it. Plus, the account follows you if you change jobs —it’s tied to you, not BMC.
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.