Posted: August 17, 2010

PG&E CLARIFIES CONTRIBUTION LEVELS FOR

HEALTH SAVINGS ACCOUNT PLAN

The following information was provided to IBEW Local 1245 by PG&E.

Health Savings Account Plan (High-Deductible Health Plan)

This is to notify you that for the new HSAP,  PG&E will allow total paycheck contributions by employees to meet the federal maximum limits.  For 2011, these limits will be:

Employee:  $2,300
Employee + One or More dependents:  $4,650
Employee + Domestic Partner: $1,550

In addition, since the Federal government does not recognize domestic partners the same as a spouse, we need to revise the following chart from the June 9 Table Settlement as shown below.  PG&E will continue to consider domestic partner and spouse the same and therefore, will contribute the same amount.

2011 Health Savings Account (HSA)


PG&E’s Annual Employer HSA Deposit     

Employee:  $750
Employee plus Spouse (or Domestic Partner): $1,500
Employee plus Child(ren): $1,500
Employee + Spouse (or Domestic Partner)  plus Child(ren): $1,500

       
2011 Maximum Annual Contribution Limits Allowed By Federal Government for All Contributions (Employer and Employee)  Except Catch-up Contributions     

Employee:  $3,050
Employee plus Spouse (or Domestic Partner): $6,150
Employee plus Domestic Partner: $3,050
Employee plus Child(ren): $6,150
Employee + Spouse (or Domestic Partner) plus Child(ren): $6,150

       
Maximum Catch-up Contributions Limits - Additional Annual Contributions are Allowed if Account Holder is Age 55 or older: $1,000

       
Employee HSA Contribution Limits - PG&E will limit total paycheck contributions to ensure that employees’ contribution and PG&E’s contribution do not exceed federal maximum limits.  Employees may make additional contributions directly to the HSA if eligible.

Employee:  $2,300
Employee + Spouse: $4,650
Employee + Child(ren): $4,650
Employee + Domestic Partner: $1,550