Citi Benefits Handbook
Health Care Spending Account (HCSA)
You can contribute between $120 and $2,750 per year on a before-tax basis to reimburse yourself for eligible out-of-pocket health care expenses. Contributions are deducted each pay period before federal and, in most locations, state and local taxes are withheld.
The $2,750 limit applies to each employee electing to participate in the HCSA. If you and your spouse/partner are both Citi employees, you can each contribute up to $2,750 to your own HCSA.
You must actively elect to participate in the HCSA during each Annual Enrollment or within 31 days of a qualified change in status during the 2021 plan year. You may enroll in the HCSA if you are not enrolled in the High Deductible Health Plan (HDHP).
If you enroll in the HDHP, you cannot enroll in the HCSA. However, if you enrolled in the HCSA prior to a qualified change in status, then you are permitted to retain the HCSA, even if you elect an HDHP due to a qualified change in status. However, having enrolled in the HCSA precludes you from being eligible to establish or contribute to an HSA and/or enroll in the LPSA for the remainder of the plan year.
You can be reimbursed for expenses incurred only during the time you are enrolled. Generally, you can enroll as a new employee, during the Annual Enrollment period, or within 31 days of a qualified change in status. Alternatively, you can make a change in connection with the COVID-19 guidance described under "How the Spending Accounts Work."
HCSA claims, including any pertinent supporting documentation to establish that a claim is eligible to be reimbursed, must be filed and resolved by June 30 of the calendar year following the calendar year in which the expense was incurred. Generally, you may change or stop your contributions as a result of a qualified change in status.
Important COVID-19-Related Update
On December 27, 2020, the Consolidated Appropriation Act 2021 was signed into law, providing additional COVID-19 relief measures and extensions for certain spending accounts. Due to the impact of COVID-19, you have a one-time opportunity to adjust your current health care and/or dependent care spending account elections.
You may be allowed to prospectively enroll, cancel, increase your election amount, or decrease your election amount for your health care and/or dependent care spending accounts. Note: you may not decrease your goal amount to be below what you have contributed to date.
You will be offered an opportunity to enroll or make prospective changes to your 2021 coverage until October 31, 2021.
If you were enrolled in the HCSA during the 2020 and/or 2021 plan years, you will be able to carry over any unused amounts in your HCSA at year-end to be used the following year through the 2022 plan year.
If you have questions, call the Citi Benefits Center through ConnectOne at 1 (800) 881-3938. See the For More Information section for detailed instructions, including TDD and international assistance.
The amount of your payroll contributions will appear on your Form W-2 Wage and Tax Statement for the year in which you were enrolled.
In accordance with IRS guidelines, the Plan Administrator may reduce the rate of contribution by certain participants to ensure that the HCSA is not deemed to discriminate in favor of highly compensated employees.
If you are a reservist called to active military duty for more than 179 days, you are entitled to receive a taxable distribution of your HCSA balance (contributions less the amount reimbursed) if you request a distribution by the last day of the calendar year in which you made the contributions.