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Health Savings Account
This section provides a summary of the Health Savings Account (HSA) (the "Account") as of January 1, 2012.
This section, together with the Administrative Information section and the applicable section about participation, forms the Summary Plan Description and plan document of the Plan.
The Health Savings Account (HSA) is a tax-advantaged trust available to employees who elect the Marsh & McLennan Companies Consumer Directed Health Plan (the CDHP). For information on the CDHP, see the Consumer Directed Health Plan section.
The Health Savings Account allows you to put aside money before taxes are withheld so that you can pay for current and future qualified medical expenses, including long-term care, COBRA, and Medicare premiums. Your account can also pay for non-qualified medical expenses, although reimbursement for such expenses are subject to federal, state, and local taxes, as applicable, and in most cases a penalty tax.
The Employee Retirement Income Security Act of 1974 (ERISA) is a federal law that governs many employer-sponsored plans including this one. Your ERISA rights in connection with this Plan are detailed in the Administrative Information section.