If you enroll into the Base Option 3 plan, New Horizons Baking Company will make a total annual contribution of $500 for single coverage or $1,000 for family coverage into your Health Savings Account (HSA). These funds are deposited twice per year. Half of the annual amount will be deposited in January and the second half of the annual amount will be deposited in July. You have the option to contribute money to help pay for eligible expense or save the money for future medical expenses, up to the 2023 federal limits:
Note: The New Horizons Baking Company HSA contribution amount is pro-rated for new hires based on plan enrollment date.
New Horizons Baking Company has set up an HSA bank for you to use. You will need to open your HSA bank account before the company funds or your funds can be deposited. To make the process of finding a bank easier for you the New Horizons Baking Company has provided information for Key Bank. Please see your HR Manager for a Key Bank form. If you use Key Bank, the maintenance fees will be paid by New Horizons Baking Company. You also have the option to open an account at your preferred bank.
Three simple ways to open your Key Bank HSA:
- ONLINE – The easiest and most immediate way to open an HSA is online. Just go to www.Key.com/HSA and click “Apply Online”. Your company’s code is 252266. The easy to follow instructions will guide you through the process.
- BY PHONE – They offer the opportunity to open an HSA over the phone. Call the special toll-free number
1- 888-KEY-2020 to speak with one of Key Bank’s HSA specialists. - KEY BRANCH– You can also open an HSA at any Key Branch. To find the Key Branch nearest you, go to Key.com or call 1-888-KEY-1234.
