Health Savings Accounts (HSAs)

Benefits of your HSA

• If you enroll in the Cigna HDHP Plus with HSA plan, an HSA bank account will automatically be opened for you.
• By simply enrolling in the HSA, Sprinklr will contribute $750 in your HSA if you’re enrolled as an individual, or contribute $1,500 in your HSA if you’re enrolled in any other tier. Sprinklr contributions to your HSA
• For 2024, you can contribute up to $4,150 per year in your HSA if you’re enrolled as an individual, or up to $8,300 if you’re enrolled with a spouse, child, or as a family. Keep in mind – these maximum contributions include what Sprinklr provides.
• You can use your HSA funds on eligible expense for you and your dependents enrolled in the medical plan.
• Employees age 55 and older may contribute up to an additional $1,000 per year – considered a catch-up contribution.
• Unused HSA funds continue to roll over each year and are 100% owned by you. You can invest your funds once your reach a minimum account balance of $1,000.
• Your funds are portable. Should you leave Sprinklr, you will still retain all of the HSA money in your account until you use it. You can withdraw funds penalty free starting at age 65.
• Your funds will be held in an account that you can access using a debit card issued to you by PNC Bank.
• Your HSA Administrator is PNC Bank – your funds are deposited into your personal Health Savings Account with PNC Bank. You’ll be able to access all of your account info and history at mycigna.com.

Sprinklr contributions to your HSA

NOTE: If you join Sprinklr after the start of the plan year, your HSA contributions from Sprinklr will be prorated for your first year.

Are you eligible for an HSA?

Because HSA plans have certain tax advantages, the IRS defines specific rules for participants.

You are not eligible for an HSA if you:

Are enrolled in Medicare.

Are covered by another medical plan that’s not a qualified high deductible health plan.

Can be claimed as a dependent on someone else’s tax return.

Are covered by veterans’ benefits and have used Veterans Affairs medical services within the past three months. Veterans who have a service-connected disability can participate in an HSA regardless of when they received VA benefits.

Are enrolled in or covered by a general purpose Health Care Flexible Spending Account (FSA) or Health Reimbursement Account (HRA), including one through your spouse’s/domestic partner’s employer.

Important HSA Considerations

HSAs are personally owned health savings accounts subject to annual IRS maximum contributions. Individuals must monitor their pre-tax elections and Sprinklr’s contributions throughout the tax year to ensure they do not exceed the annual limits. You can review your year-to-date contributions through www.mycigna.com. Changes to pre-tax HSA payroll contributions are permitted anytime throughout the year to account for necessary adjustments.

The Sprinklr Health FSA plan features a “carry-over balance provision.” The FSA carry-over helps FSA participants avoid end-of-year forfeitures by allowing unused FSA balances of up to $640 to roll over to the following plan year. Although helpful to Health FSA participants, the carry-over balance can affect an individual’s eligibility for HSA contributions as they transition from a traditional health insurance plan to an HSA-qualified high deductible plan. If an employee has a Health Care FSA Balance at the close of the calendar year, and enrolls in a High Deductible Health plan for the following plan year, funds up to $640 will automatically be put in a Combo FSA. Funds over the allowed carryover amount will be forfeited, so remember to use your FSA funds by Dec. 31.