MMC Benefits Handbook
When Contributions End
When do contributions to my Health Savings Account end?
Your before-tax contributions end on the first of the following to occur:
  • the date you no longer meet the eligibility requirements
  • the date you terminate employment
  • the date of your death
  • the date the Plan is terminated.
You can make contributions to your Health Savings Account on an after-tax basis directly to the Health Savings Account Administrator as long as you meet the tax requirements to contribute to a Health Savings Account.
Upon termination, do I have to pay back any portion of the Company contribution?
No, if you received a Company contribution and you leave the Company, you do not need to pay back any portion of the Company contribution.
Upon termination, do I have to pay a fee to participate in this plan?
Yes. A $4.00 monthly administrative fee to maintain your account will apply.
How do I pay the monthly administrative fee?
The $4.00 monthly administrative fee is automatically deducted from your Health Savings Account.
What happens when I become covered by Medicare?
If you become covered by any Medicare benefit, you are no longer eligible to contribute to the Health Savings Account.
Do I forfeit any money in my Health Savings Account when I terminate my employment with the Company?
Amounts contributed to your Health Savings Account belong to you. Health Savings Account balances are non-forfeitable and are always fully vested.
If I terminate my employment with the Company can I continue making contributions to the Health Savings Account if I am on COBRA?
As long as you elect COBRA coverage for your Marsh & McLennan Companies $1,500 Deductible Plan or $2,850 Deductible Plan or have other high deductible health plan coverage and meet the other tax requirements to contribute to the Health Savings Account, you can make contributions to your Health Savings Account on an after-tax basis directly to the Health Savings Account Administrator. Generally, you will be able to claim a deduction for your after-tax contributions to your Health Savings Account when you file your taxes. Please consult your personal tax advisor for specific advice regarding your personal circumstances.
Transferring Accounts
Can I transfer my account to another Health Savings Account administrator?
You can transfer your Health Savings Account to another health savings account administrator in one of two ways:
  • take a rollover distribution by check and transfer your account within 60 days after the date you received the distribution. You are permitted one rollover distribution during a one-year period.
  • transfer your account from trustee-to-trustee. There is no limit on the number of times you can request a trustee-to-trustee transfer.
Contact Trion for details on how to transfer your Health Savings Account. There is a $25 fee to close your Trion Health Savings Account and transfer it to another health savings account administrator.
Note, though, that contributions deducted each pay period are remitted to the Health Savings Account Administrator chosen by the Company to administer Health Savings Account accounts. Your contributions will not be remitted to another health savings account administrator if you choose to transfer your account.
Can my account be transferred upon my divorce or separation?
Yes. Please note that, for administrative reasons, if HSA assets are to be split per separation or divorce decree, the ex-spouse must first establish his or her own HSA with another trustee prior to requesting the transfer.
In the event of my death, what will happen to my Health Savings Account?
In the event of your death, your designated beneficiary will receive your account. The tax treatment depends on who you have designated as your beneficiary. For example, if you designate your spouse as your beneficiary, your spouse becomes the owner of the Health Savings Account and the transfer is not subject to taxation. If your designated beneficiary is anyone else, your account ceases to be a Health Savings Account and your beneficiary will receive the fair market value of the Health Savings Account assets as of the date of death as taxable income. Unless your beneficiary is your estate, the taxable amount is reduced by any payments from your Health Savings Account made for your qualified medical expenses, if made within one year after death. Please consult your personal tax advisor for specific advice regarding your personal circumstances before you designate a beneficiary.
How do I designate a beneficiary for my Health Savings Account?
You can designate a beneficiary for your Health Savings Account online by logging on to the Spending Account Service Center or by completing a Health Savings Account Beneficiary Form. You can obtain a Health Savings Account Beneficiary Form from the Spending Account Service Center or by contracting the Spending Account Service Center at +1 866 324 4087, any business day, from 8:30 am to 5:30 pm ET. Any prior beneficiary designation will not apply to your Trion Health Savings Account.
You can also obtain a Health Savings Account Beneficiary Designation Form by going to Colleague Connect (https://colleagueconnect.mmc.com). Click Career & Rewards and select Find a Document.