What's New in 2021
- Contributions for medical coverage are based on the medical program you elect and the number of people you enroll. Contributions will be increasing from 2020 to 2021, so it is important for you to review the 2021 medical contributions.
- The maximum amount you can contribute to the Aetna Plan 4 Health Savings Account in 2021 is increasing to $3,100/individual and $6,200/family.
Reimbursement Accounts and Health Savings Account (HSA)
The 2021 limits for the Reimbursement Accounts and the HSA are indicated below. Only the HSA maximum contribution has changed from 2020 to 2021. All Reimbursement Account limits have not changed for 2021.
|Type||Minimum||Your Maximum Contribution|
|Dependent Day Care||$300/year||$5,000/year if you are married and file a joint tax return or are single. If you are married and file separate income tax returns, the maximum you may contribute is $2,500.|
|Transit Commuter||$25/month||$3,240/year but no more than $270/month|
|Parking||$25/month||$3,240/year but no more than $270/month|
|Health Savings Account (HSA)||$300/year||$3,100/individual or $6,200/family (excludes BSA’s contribution)|
The annual limit for the maximum contribution that can be made to the 401(k) plan for 2021 is $19,500. And, if you are age 50 or older, you may contribute an additional $6,500 for catch-up contributions. You can enroll in the 401(k) Plan at any time.
There have been no changes to the dental, vision care, life, Accidental Death & Dismemberment (AD&D), long term disability and vacation buy plans.