If you currently have a Sysco HSA, you can change your contribution amount any time throughout the year before October 31. To change your HSA contribution amount, contact the Sysco Benefits Center. If you have any questions regarding your election change, please contact the Sysco Benefits Center at 1-800-55-SYSCO. If you have any questions regarding your HSA account or claims, please contact PayFlex at 1-844-729-3539.
Sysco will contribute to your HSA up front to get you started. Sysco will automatically contribute $250 if you select Colleague Only coverage or $500 if you cover other family members. Then, you can make pre-tax contributions from your paycheck to build your savings to pay for healthcare now or in the future. If you have not opened your account already, be sure to complete the activation of your HSA to fully open your account.
No. To be eligible to open an HSA, you must be enrolled in the Sysco HSA medical plan. This is an IRS regulation. In addition, you cannot:
During Benefits Enrollment you will select the amount you would like to contribute to your HSA, up to the year IRS limits. The amount you choose will then be deducted from your paychecks. Review this Quick Reference Guide for additional details.
The 2023 IRS limit is $3,850 for individuals and $7,750 for families.
Yes. Any contributions made by Sysco are counted toward your annual IRS limit on the HSA contribution amount.
PayFlex administers the HSA. They offer easy access to your account and excellent customer service. Once you’ve set up your account, you may contact PayFlex to ask about investment options.
You cannot have a traditional health care FSA; however, you can have a Limited Use FSA. A Limited Use FSA is used to pay for out-of-pocket dental and vision expenses only.
The primary difference between a Health Savings Accounts (HSA) and a Flexible Spending Accounts (FSA) is that money contributed to an HSA carries forward to the following year if unused. In contrast, FSAs are “use it or lose it”. Also, in order to take advantage of the HSA you need to be enrolled in the Sysco HSA medical plan.
You should maintain records and keep your receipts in case the IRS were to audit your account and spending.
If you should leave Sysco or choose another medical plan in the future, the money in the account is yours to keep.
No. An HSA is not a "use it or lose it" account like an FSA. One of the advantages of an HSA is that any used money at the end of the year carries forward to the next year and beyond.
The Limited Purpose FSA gives you an extra pre-tax savings option. However, it’s important to note that the Limited Purpose FSA can only be used for dental and vision expenses and is only for those colleagues enrolled in the HSA medical plan.
Any money that remains in your HSA at the end of the year carries forward to the next year. This means that you don’t have to worry about losing any money from year to year.
Colleagues must be hired before Oct. 31 to receive the Sysco HSA contribution for the current plan year. Anyone hired from Nov. 1 to Dec. 31 will not receive the Sysco HSA contribution for that plan year.