voestalpine High Performance Metals 2023 Benefits Open Enrollment

Health Savings Account (HSA) ▼

Administered by HealthEquity

A Health Savings Account, commonly known as “HSA,” is an individual account you can open, add money to and spend on eligible health care expenses.

The HSA is Unique Because:

Money used for eligible expenses is not taxed.
Investment earnings are not taxed.
Money spent on eligible expenses is not taxed.
The money rolls over year to year.
You own the account and you control how the money is spent.

Eligible Expenses:

HSA money can be used tax-free for any eligible health care expenses. In general, eligible health care expenses are those that qualify toward the deductibles, copays, and coinsurance with your health insurance.

The money in your HSA must be used for eligible medical, dental, vision, and prescription drug expenses. If you use money for a dental, vision or medical expense that is not covered by the medical plan, it is important to understand that your medical plan deductible will still need to be met if an expense is incurred.

For a complete list of IRS approved Qualified Medical Expenses, visit www.irs.gov.

2024 Annual HSA contributions Limits:

(Add an extra $1,000 if you are age 55 or older)

Single: $4,150
Single+1/Family: $8,300

The Health Savings Account (HSA) is only available in combination with enrollment in an HDHP plan.

Flexible Spending Account (FSA) ▼

Administered by HealthEquity

Flexible spending accounts (FSAs) provide you with an important tax advantage that can help you pay for health care and dependent care expenses on a pre-tax basis. By estimating your family’s health care and dependent care costs for the next year, you can lower your taxable income and save money.

Health Care FSA

This program allows you to pay for certain IRS-approved medical care expenses not covered by your medical plan with pre-tax dollars. Some examples of eligible expenses include:

Copays and coinsurance
Hearing services, including hearing aids and batteries
Vision services, including contact lenses, contact lens solution, eye exams and eyeglasses
Dental services and orthodontia
Chiropractic services

Dependent Care FSA

The Dependent Care FSA allows you to use pre-tax dollars toward qualified dependent care such as caring for children under the age 13 or caring for elders. The annual maximum amount you may contribute to the Dependent Care FSA is $5,000 (or $2,500 if married and filing separately) per calendar year. No funds can be rolled over.

Examples include:

The cost of a child or adult dependent care facility, the cost for an individual to provide care either in or out of your house, nursery schools and preschools (excluding kindergarten).

Vision ▼

Administered by VSP

Vision benefits are so much more than an eye exam. They help you save money, stay healthy and see everything life has to offer. voestalpine High Performance Metals offers a comprehensive vision insurance plan, which includes coverage for routine eye exams and also pays for all or a portion of the cost of glasses or contact lenses.

Click the links below to learn more:

Hospital Indemnity ▼

Administered by Voya

Even with health insurance, a stay in the hospital can become costly quickly as out-of-pocket charges begin to add up. Hospital Indemnity Insurance through Voya can reduce the financial and emotional stress of a hospital stay by providing a lump sum cash benefit directly to you that can be used however you need, whether that’s for coinsurance or childcare. There are two levels of coverage available so you can choose the benefit that best fits your needs.

The plan pays you benefits for events such as:

Hospital Admission
Critical Care Unit (CCU) Admission
Hospital Confinement
CCU Confinement
Rehabilitation Facility Confinement

Plus, the plan will also pay you a $50 benefit when you complete a qualified health screening test. Click here to learn more!

Critical Illness ▼

Administered by Voya

No one saves to get sick, which is why a diagnosis of a covered condition can be especially draining, both emotionally and financially. Critical Illness Insurance protects your family and your assets. You have the option to choose your level of coverage so you can make sure you have the right protection for your family.

The policy provides you with a lump-sum cash benefit in the event you or a loved one is diagnosed with a covered condition such as cancer, heart attack, stroke, or infectious disease such as COVID-19. It can help provide financial protection so you can focus on what’s really important – getting better. Plus, the policy will also pay you a $50 benefit when you complete a qualified health screening test. Click here to learn more!

Accident ▼

Administered by Voya

Accident Insurance can help you cover the extra costs that can occur when you, your spouse or your children suffer a covered injury off the job. Plus, the plan will also pay you a $50 benefit when you complete a qualified health screening test. Click here to learn more!

Benefits are payable for such things as:

Fractures and dislocations
Hospitalizations and doctor visits
Visits to the emergency room
Physical therapy

Plan Features:

No health questions to answer
Guaranteed renewable
Lump-sum benefit
Family coverage options

Life Insurance with Long Term Care ▼

Administered by Chubb

Life Insurance with Long Term Care through Chubb is available to provide you with even greater financial security. This coverage offers protection beyond your working years, potentially for your lifetime.

This coverage goes beyond typical term life insurance with features such as:

A guaranteed death benefit that will never decrease
Level premiums that will never increase
Living benefits

This coverage also offers you benefits should you need Long Term Care after becoming chronically ill and confined to a nursing or assisted living facility, or if you need to receive home health or adult day care.

Employee Assistance Program (EAP) ▼

Administered by Voya

Your EAP is available at no additional cost and gives you 24/7 access to counseling and online resources. The EAP is completely confidential and available for you or a household member to use. Your EAP includes up to 3 face-to-face sessions, per presenting problem, per individual, per year. For additional information and support, please: