HRA / HSA / FSA / LSA

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Teva provides a variety of spending and savings accounts that allow you to save for—and pay for—health care when you need it.

Health Reimbursement Account (HRA)

When you enroll in Option 1 with HRA, you have access to an account—funded only by Teva—that can help you pay for eligible medical expenses.

What to Know

  • An HRA can be used for eligible medical expenses—not for prescription drug, vision or dental expenses.
  • Teva provides automatic funding to an HRA when you enroll in Option 1 with HRA.
  • HRA credits will be applied to eligible expenses incurred by any covered family member.
  • All HRA credits from Teva are excluded from your gross taxable income and are tax free.
  • Unused HRA credits in Option 1 with HRA roll over each year (up to $900 for Employee Only coverage; up to $1,800 for Family coverage); the rollover funds are reduced by the automatic HRA contribution provided by Teva.
  • Rolled over HRA credits can’t be used retroactively.
  • Unused HRA credits cannot be rolled into an HSA.
  • Only Teva can provide HRA credits.

Here’s how HRA credits roll over:

Meet Jeff and Jill

2024 Medical Plan: Option 1 with HRA
Coverage: Employee + Family
Available 2023 HRA Credits: $2,472
2024 Plan Deductible: $3,000 (in-network)

Situation:

Jeff and Jill have $2,472 in HRA funds from 2023 rolling over into 2024. However, the amount they rolled over depended on their medical plan and coverage level elections for 2024. If they stayed in Employee + Family coverage in Option 1 with HRA for 2024, they could roll over only $1,800 (the deductible [$3,000] minus Teva’s automatic HRA contribution [$1,200] for 2024).

Health Savings Account (HSA)

When you enroll in Option 2 with HSA, you have access to an account—funded by you and Teva—that lets you save and grow pre-tax money for certain health care expenses.

What to Know

  • The HSA is administered by Fidelity.
  • An HSA is a tax-free account that allows you to save money for current and future qualified medical expenses.
  • Teva will provide automatic funding to your HSA.
  • You and Teva can contribute to your HSA up to the annual IRS limits.
  • It is your responsibility to ensure the combined contributions to your HSA do not exceed the IRS maximum limit.
  • You must be enrolled in a High-Deductible Health Plan (Option 2 with HSA) in order to have access to an HSA; Medicare enrollees are not eligible.
  • HSA funds cannot be rolled into an HRA.

Flexible Spending Accounts (FSAs)

Flexible Spending Accounts (FSAs) allow you to save pre-tax dollars for health care and dependent care expenses.

What to Know

  • All FSAs are administered by Meritain Health.
  • Teva offers three Flexible Spending Accounts (FSAs). You do not need to be enrolled in a Teva medical plan to participate in any of these FSAs.
  • Due to U.S. Government rules, you must re-enroll in these accounts each year.
  • Recent regulations now require the verification of bank accounts for new Flexible Spending Accounts (FSAs) or existing FSAs where the account holder requests to change banking account information. When you add or update your banking details with Meritain Health, a micro-deposit will be made to the new bank account listed. To verify the amount of the micro-deposit, you can log on to Meritain Health, visit their mobile app or call customer service at (800) 566-9305.
  • Available to enrollees in Option 1 with HRA, Option 3 and Option 4 (or employees who waive Teva medical plan coverage).
  • Set aside $120-$3,200 in pre-tax dollars to pay for eligible expenses (the Health Care FSA debit card can be used for prescription drugs only).
  • You may roll over up to $640 from 2024 to 2025; any remaining funds (even those rolled over from prior years), must be used on eligible expenses incurred on or before December 31, 2024, or the funds will be forfeited.
  • Automatic reimbursements: If you are enrolled in Option 1, Option 3 or Option 4, you can choose to receive automatic reimbursements from your Health Care FSA (if you have an account) for any medical claims where you owe all or a portion of the bill. To enroll in automatic reimbursements, go to Meritain Health, log in (or register), click on “Tools & Support” and under “How Do I” select “Manage My Automatic Healthcare Claim Filing.” Then, click the opt-in box for all accounts listed; make sure a checkmark appears in each box.
  • Eligible claims will be paid from your HRA first and your Health Care FSA second.
  • Contributions are made through payroll deductions over the course of the year.
  • Rollover Health Care FSA dollars will be available to you early in the second quarter of the following year.
  • Available to enrollees in Option 2 with HSA.
  • Set aside $120-$3,200 in pre-tax dollars to pay for qualified dental and vision expenses only.
  • You may roll over up to $640 from 2024 to 2025; any remaining funds (even those rolled over from prior years), must be used on eligible expenses incurred on or before December 31, 2024, or the funds will be forfeited.
  • Limited Expense Health Care FSA dollars may be used for eligible dental and vision expenses only.
  • Account works together with an HSA to cover eligible expenses.
  • Available to all Teva employees if certain criteria are met.
  • Set aside $120-$5,000 in pre-tax dollars to pay for eligible dependent day care expenses only.
  • Contributions are made through pre-tax payroll deductions over the course of the year.
  • Unused Dependent Care FSA funds can be submitted to Meritain Health for reimbursement for expenses incurred on or before December 31, 2024. There is no roll over of Dependent Care FSA funds to 2025.
  • Dependent Care FSA compliance:
    • Dependent Care FSAs are subject to requirements imposed by Section 129 of the Internal Revenue Code (Code).
    • For Teva to provide tax-advantaged benefits offered under the program, the Dependent Care FSA must not discriminate in favor of “highly compensated employees” (as defined under the Code), either in terms of eligibility to participate, contributions or benefits under the program.
    • If you are defined as a “highly compensated employee,” your contributions will be limited for the rest of the year. You will be notified if you are impacted.

Lifestyle Spending Account (LSA)

We offer a Lifestyle Spending Account (LSA) to support your physical, emotional and financial wellbeing in the ways that are right for you and your family.

What to Know

  • Teva contributes $300 to your LSA each year. No enrollment is required (you are pre-registered for an Espresa account), and the benefit is taxed as you use it.
  • You decide how and where to spend your money on eligible wellbeing expenses in 2024 (there is no carry-over to the following year).
  • You can shop at any store and submit your receipts to Espresa for reimbursement in a subsequent paycheck, or you can use your funds in the Espresa Marketplace to purchase discounted items.
  • For log in and spending details, see the Lifestyle Spending Account (LSA) User Guide.
  • For questions, reach out to Espresa at support@espresa.com.

Still confused? Try the accounts comparison chart.

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