HSA Record Keeping 1

Eligible Expenses 1

Frequently Asked Questions 2

Inside this issue:

Health Savings Account June Edition

Keep records showing HSA spending

It is important that you keep sufficient Health Savings Account (HSA) spending records to show the following:

The distributions were exclusively to pay or reimburse qualified medical expenses,

The qualified medical expenses had not been previously paid or reimbursed from another source, and

The medical expenses had not been taken as an itemized deduction in any year.

Keep receipts and other HSA-related documentation with you personal tax records.

Eligible Expenses

HSA funds can be used for a variety of eligible medical, dental, vision, prescription and some health insurance premium expenses. Examples of eligible expenses: Medical Expenses

─ Anesthesia, Chiropractic care, Flu shot, Hearing aids, Hospital room & board, Physical exam, Physical therapy, Psychiatric care, Surgery, Wheelchair

Dental Expenses ─ Crowns, Fillings, Orthodontia, Teeth cleaning,

Tooth extraction Vision Expenses

─ Contact lenses & eyeglasses, Eye drops, Eye examinations, Laser eye surgery

Prescription Expenses: All legally obtained prescriptions are eligible for purchase with HSA funds.

Insurance Expenses ─ COBRA premiums ─ Long term care insurance premiums

Expenses NOT eligible: Expenses merely beneficial to general health or for cosmetic reasons are not eligible. Concierge fees (bills for future services; no treatment

actually provided) Cosmetic surgery Cosmetics, moisturizers and wrinkle creams Deodorant Exercise equipment and fitness programs Hair transplants Illegal operations & treatments Toothpaste, mouth wash, and teeth whitening services

and products

For more information , visit www.mybenefitwallet.com. A full listing of Qualified Medical Expenses can be found on the IRS website (www.irs.gov) under Publication 502.

Take Charge. Take Action. Take Care — And Be Safe!

Use mybenefitwallet.com

BenefitWallet is your HSA administrator. To access the BenefitWallet portal, visit mybenefitwallet.com and enter your User ID to log in at the top right corner.

You will then arrive on your personalized member portal home screen, where you can access your account information and educational resources. Resources to assist you

Available resources on mybenefitwallet.com include: modeling tools , FAQs , educational and video library

If you need help navigating the BenefitWallet member portal, information is available in the “Communication Center” after you log in to your account.

EMPLOYEEBENEFITSSteel Dynamics, Inc.

HSA Investments: Frequently Asked Questions

May I invest my HSA dollars? Yes. Unlike oth-er savings accounts, The HSA has no provision insisting you “use or lose” your account dollars at the end of the year. Any funds you do not use in a given plan year remain in your interest bearing account for future qualified medical expenses. Over time you can build a nest egg of savings. When can I start the HSA investment process? Your BenefitWallet HSA begins with an FDIC-insured, inter-est-bearing checking (transactional) account; all HSA deposits are first credited to this account. Once your HSA account balance reaches $1,000, you may: Elect to transfer the excess balance to an HSA In-

vestment Account. Transfer additional HSA dollars from your HSA

checking account to your HSA Investment Account or add additional investment options online.

Establish an automatic investment schedule, which allows you to make regularly scheduled invest-ments each month. You specify up to two days per month and a dollar amount you would like to invest (you may modify the days and the dollar amounts online) and that amount is automatically transferred from your HAS checking account to your HSA Investment Account.

Your HSA Investment Account offers over 25 invest-ment options from a variety of fund families. Is the interest earned from my HSA Investment Account taxable income? No. Contributions, interest, investment earnings and withdrawals (for qualified medical expenses) are not taxed for federal income tax and state income tax (in most states). Current tax-es and IRS penalties may apply to nonqualified with-drawals. (For a list of qualified medical expenses, visit the IRS Web site at www.irs.gov) Is there a minimum investment I would need to make? There is no minimum investment. That means your initial investment minimum can be as little as $1.00, once your HSA checking account balance reaches $1,000.

How often can I change investments? You can move your assets among investments as often as you like. You will have access to your HSA Investment Account online, 24 hours a day and 7 days a week (other than during periods of scheduled maintenance). Is there a fee for transferring funds back into my HSA checking account? No. You can transfer HSA dollars back and forth between your HSA checking account and your HSA Investment Account online, at any time. It is important to know that funds are not automati-cally transferred from your HSA Investment Account into your HSA checking (transactional) account to cov-er your qualified medical expenses. You must move funds to cover your HSA checks, debit card and online transactions.

How do I set up an HSA Investment Account? 1. Log onto your BenefitWallet account 2. Click the “Investments” link 3. Follow the prompts

Take Charge. Take Action. Take Care — And Be Safe!

Who can I spend my HSA funds on? HSA distributions are tax-free if used for quali-fied medical expenses for:

You

Your legal spouse

Any dependents you claim on your tax return

Even if these family members are not on your SDI Health Plan, you can use HSA funds to pay for quali-fied health expenses. For more information login to your BenefitWallet account.

Can I set up notifications from my HSA? You can set up notifications to keep tabs on your HSA even when you’re not logged into your account. To set up alerts login and then choose “Alerts” from the Quick Links menu and then “HSA Alerts” to set up email alerts. Email alerts can be set up based on bal-ance, transaction or other specified information. To access your HSA information on-the-go via text messaging, login to your account, go to “Alerts” from the Quick Links menu and enter your cell phone num-ber to sign up for texting. After signing up for texting, register your device by entering the activation code that is sent to the number you provided. You may text for your balance or other important HSA information.

For more information about your Health Savings Ac-count visit www.mybenefitwallet.com.