cvs just cheated employees on HSA contribution. ahhh............ historically, every 6 months i get $500 added to HSA from "employer" contribution. last december i got $500 added. this june i'm suppose to have another $500 added. but instead, this june i only got $38 added. they changed the gaming to make the contribution every 15 days. and so the $38 won't add up to $500 until December. and so they screwed everyone up for this month of june. they pretty much skipped $500 for this month.
-
CycleTrack and SDN are teaming up to make medical school admissions more transparent and accessible! Read the announcement to learn how we’re supporting the future of CycleTrack’s free application-tracking tools .
HSA contribution /cvs
Started by sosoo
Get help with your application
Use all the free resources available to you from SDN: articles, guides, expert advising, forums discussions, and school research.
Why would I pay my employee 6 months in advance when I can pay them every 2 weeks?
Same for medical benefits. If you quit, then I am screwed for paying you in advance.
Would you pay your entire 6 months of mortgage in advance, or 6 months of rent?
This is very responsible of CVS.
Same for medical benefits. If you quit, then I am screwed for paying you in advance.
Would you pay your entire 6 months of mortgage in advance, or 6 months of rent?
This is very responsible of CVS.
Either way, don't spend it. Let it sit there in an index fund. Once you turn 65, it's basically an IRA. If you need it for some great medical expense, fine. If not, another tax free vector for retirement. I max out 401k...and this year I'm going to start maxing out HSA, too.
They have a lot of faith that their employees will stick around for at least 6 months right? Training and hiring new employees is expensive too, maybe focus on retention?
Sent from my iPhone using SDN mobile
Sent from my iPhone using SDN mobile
on june 8, you're suppose to get $500. but instead they gave u $38. so you're at a lost this june.... from now to december, u get $38 every 15 days. that will add up to $500 that u suppose to get later this december. so that much is correct going forward... but cvs pocketed, and we lost $500, this june. its simple math.
Think of it this way...if you leave in Nov then you would get 5 months of contribution vs. nothing
Sent from my iPhone using SDN mobile app
think of it this way, if you leave cvs in july, then you pocketed $38. that's with the new system. with the old system, on june 8 you pocketed $500.
now lets say you leave cvs next january. the new system you get $38 every 15 days, so you would pocket $500. but with the old system, you would pocket $1,000... that's $500 june and $500 december.
now lets say you leave cvs next january. the new system you get $38 every 15 days, so you would pocket $500. but with the old system, you would pocket $1,000... that's $500 june and $500 december.
$3,350 is the combined limit so employees can contribute only $2350 annually without penalty if you do get a $1000 match (wasn't it $500 previously?) However, for whatever reason HSA contributions still incur FICA tax at CVS IIRC
Long story on whether HSA is subject to FICA taxes
Long story on whether HSA is subject to FICA taxes
