SAVE ON HEALTHCARE EXPENSES
Enroll in a Health Savings Account (HSA) to set aside money from your paycheck on a pre-tax basis to help you save on current and future health care expenses. You are able to enroll in the HSA program when you enroll in Marvell's Anthem High Deductible Health Plan (HDHP).
Employer Funding: Marvell contributes to your HSA on an annual basis in the amount of $500 for Employee-only coverage and $1,000 for Family coverage, funded as an upfront contribution to your HSA in January, or for new hires, within a few weeks of your when you finalize your benefit elections.
You can contribute up to the max combined amount with the employer funding of $3,600 for Employee-only coverage and $7,200 for Family coverage. Age 55 or older catch-up contribution is an additional $1,000 per year.
*Note: Contributions to HSAs may be subject to state taxes in California, Alabama, and New Jersey.
Note: When a New Hire starts December 3 or later, or an employee moves to the HDHP and enrolls in an HSA with an effective date of December 3 or later, the employee is not able to contribute to their HSA and are not eligible for an employer contribution until January 1 of the following calendar year, per IRS regulations.
How Does an HSA Plan Work?
Enrolling: If you are enrolled in the Anthem High Deductible Health Plan (HDHP), you will be asked for the amount you would like to contribute towards your HSA for that calendar year, up to the IRS annual maximum. The amount you choose will be divided by the number of paychecks remaining in the calendar year.
You can update your HSA election at anytime (no Qualifying Life Evevnt required) by going to the Benefits Enrollment system, clicking on Update by Benefits and use the Life Event "Change of HSA Contribution".
Maximum Contributions: IRS maximums for 2021, including contributions made by the Employer:
- $3,600 for Employee-only
- $7,200 for Family coverage (includes the Employee + Spouse, Employee + Children, and Employee + Family coverage levels)
- Age 55 or older Catch-Up contribution is an additional $1,000 per year.
Funds Roll Over: The funds in the HSA can be used to pay for your out-of-pocket medical expenses, and if unused, rolls over year-to-year.
After Enrollment: Once you enroll into the HSA, an account will be created for you at UMB Financial Corporation and you will manage your funds through Navia (see below section for registering your Navia account).
You may be asked to provide proof of identity in order to open an HSA, per CIP compliance with the Patriot Act.
Start Here: Register with Navia
After you've enrolled in Marvell's benefit plan, register your HSA with Navia to manage your account. Visit www.naviabenefits.com, click on "Register" in the upper-right corner of the screen and select "I'm a participant." The 3-character employer code is: MRV. Shortly after completing the online form you will receive an email confirmation with a link to create a password.
Note: You will be charged a $2.50 quarterly fee to receive paper statements unless you opt to receive paperless statements. Change your statement preferences through www.naviabenefits.com.
Who is Eligible for an HSA?
You, your spouse, and dependent's expenses are eligible for reimbursement under the HSA. Your spouse and dependents do not need to be enrolled under your medical plan for their expenses to be considered eligible. However, you must be enrolled in Marvell's Anthem HDHP in order to make contributions to your Marvell HSA through Navia.
To be eligible to contribute to a Health Savings Account (HSA):
1) You must be covered by a qualified high-deductible health plan (HDHP)
2) You cannot be covered by another health plan, including Medicare
3) You cannot be claimed as a dependent on another individual's tax return
4) You or your spouse cannot be participating in a full purpose Flexible Spending Account
Note: You may use your HSA for your dependent's and spouse's expenses, as long as they do not file separate tax returns.
What Expenses are Eligible under HSA?
HSAs cover a wide range of medically necessary expenses including, but not limited to:
- Co-Pays
- Deductibles
- Dental Expenses
- Orthodontia Payments
- Prescriptions
- Vision Expenses
For a more extensive list of eligible items, check out the Eligible Expense List
What Type of Documentation Do I Need to Submit?
You don’t have to submit receipts to receive your HSA reimbursements. However, you need to keep your receipts and documentation for each year’s federal tax return (Form 8889 attached to Form 1040).
Accessing HSA Funds
1. The Navia Benefits Card
The Navia Benefits Card is loaded with your HSA dollars and can be used to pay for eligible expenses. When the card is used, the funds will be pulled directly from your HSA and paid to the provider. You will receive one Navia Benefits Card that can be used for your HSA, FSA(s), and Commuter Benefits, as applicable.
2. Online
For any purchases that weren’t made using the Navia Benefits Card, you may request a reimbursement online. The reimbursement can be direct deposited to your personal bank account or a check can be made payable to you or the service provider.
Employer Funding
Marvell will make an up front contribution to your HSA account on an annual basis:
- $500 for Employee-only coverage
- $1,000 for Family coverage (includes the Employee + Spouse, Employee + Children, and Employee + Family coverage levels)
The amount you can contribute annually to your HSA is combined with the amount contributed by the Employer. Maximum contributions for 2021 are:
- $3,600 for Employee-only
- $7,200 for Family coverage (includes the Employee + Spouse, Employee + Children, and Employee + Family coverage levels)
HSA Fund Rollovers
Click here for the rollover form to UMB.
The IRS does not allow rollovers from an HSA to a 401(k) or IRA, and you cannot rollover funds from a 401(k) to an HSA.
What Happens to my HSA if I Leave Marvell or Change Medical Plans?
If you leave Marvell or are no longer enrolled in the Marvell Anthem High Deductible Health Plan (HDHP), your HSA account and funds will remain yours after termination, but the account will be converted into an individual account at UMB Financial. A new debit card and welcome kit will be mailed to you. A monthly administrative fee of $2.50 will be assessed to your account. You may choose to rollover funds to an administrator of your choice. Contact your new administrator for a rollover form and instructions.
Setup new log-in credentials to access your HSA online account with UMB:
- www.mywealthcareonline.com/myumbhsa
- Employee ID: This unique ID is in your welcome kit
- Employer ID: UMB123456
If you have trouble registering your account please call UMB directly at 1-844-383-9826 or email This email address is being protected from spambots. You need JavaScript enabled to view it..
HSA vs FSA - What's the Difference?
The funds you contribute toward an HSA rollover year to year - the money is yours to invest and grow pre-tax to help save for expenses in retirement. You must be enrolled in the Marvell Anthem High Deductible Plan in order to enroll in the Marvell HSA with Navia.
When you contribute to a Flexible Spending Account (FSA), the money must be used within the calendar year and does not rollover. You cannot enroll in a Health Care FSA if you are contributing to an HSA. However, you can still enroll in a Day Care FSA and a Limited Health Care FSA if you are contributing to an HSA.
Learn more about FSA's here.
IRS Tax Related Information
You are responsible for taxes owing should your HSA contributions exceed the IRS annual limit. While the IRS guidelines allow you to fund a HSA for medical expenses on a pre-tax basis, not all states are required to comply. Alabama, California and New Jersey have not enacted legislation to allow pre-tax treatment of HSA contributions or earnings for state taxes. If you reside in one of these states, additional state taxes may apply.
To ensure compliance with Internal Revenue Service Circular 230, we inform you that any U.S. Federal tax advice contained in these web pages and the account agreements presented below is not intended or written to be used, and cannot be used for the purpose of avoiding penalties under the Internal Revenue Code or promoting, marketing, or recommending to another party any tax-related matters addressed herein.
Domestic Partners and domestic partner's children can be covered under your HDHP with HSA plan. However, the use of your HSA is regulated by the IRS; therefore, expenses incurred for your domestic partner and/or your domestic partner's children are not eligible for reimbursement from your HSA unless they are tax qualified dependents, as defined by the IRS. Your domestic partner is able to open and contribute to his/her own HSA bank account, and is able to use those contributions to pay for his/her own medical expenses.
Please see IRS Publication 969 for more information on your HSA plan.