Benefits Handbook

The Health Savings Account is a tax-advantaged account available to employees who elect the Marsh & McLennan Companies $1,600 Deductible Plan or $3,200 Deductible Plan. For information on these plans, see the Aetna Medical Plan Options', the Anthem BlueCross BlueShield Medical Plan Options', or the Kaiser Medical Plan Options' sections.

The Health Savings Account allows you to put aside money before taxes are withheld so that you can pay for current and future qualified medical expenses, including long-term care, COBRA, and Medicare premiums. Your account can also pay for non-qualified medical expenses, although withdrawals for such expenses are subject to federal, state, and local taxes, as applicable, and in most cases a penalty tax.

The Health Savings Account is not governed by the Employee Retirement Income Security Act of 1974 (ERISA). For example, ERISA requirements such as providing a Summary Plan Description, filing an annual report (Form 5500 Series), or making a summary annual report available do not apply.

To the extent that the Administrative Information section of the Benefits Handbook refers to a Summary Plan Description, for purposes of this Health Savings Account that term should be replaced with the term plan summary. Additionally, to the extent that the terms of this section conflict with the terms in the Administrative Information section, an employee's rights will always be determined under the provisions of this Health Savings Account and the Health Savings Account's administrative rules.

References in this section to Marsh & McLennan Companies mean Marsh McLennan.