1. Voluntary Employee Beneficiary Association Account
Invest in your future with a
Voluntary Employee Beneficiary Association Account
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2. Proprietary and confidential
Your Voluntary Employee Beneficiary Association (VEBA) account
Investing in your future
A unique health care expense management account
Opened and funded, tax-free by your employer
No “use it or lose it”
Unused money rolls over
Pay medical expenses now or in the future
Pay health insurance premiums when you retire 
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How your VEBA works
Works with any employer-sponsored medical health plan
Employer funds the account; the money belongs to you
No taxes on money going in, interest earned or on qualified withdrawals
Unused money rolls over to save for future medical expenses
Convenient SelectAccount debit card automatically issued
Use it to pay for:
Qualified health care expenses
Health insurance premiums like COBRA or Medicare
Long term care premiums
Pair with an HSA or an FSA for added flexibility and increased savings
Mutual fund investment options are available1
1 Once your Base Balance exceeds $1000 you can activate a self-directed brokerage account to invest in more than 30 investment options with Charles Schwab.
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Meet the Schwartz’s
Empty nesters – Bill and Emily
Bill, a teacher for 28 years: $48,000/yr.
Emily, free-lance web designer: $34,000/yr.
Goal: Planned retirement in five years at age 65
Preserve retirement accounts (401k and IRA) for travel
Plan for medical expenses not covered by Medicare
Pay for future health plan premiums
Strategy:
Maximize savings with a VEBA
Earn tax-free investment returns
<Pair with an FSA for current expenses>
<Pair with an HSA and limit to dental and vision expenses, or freeze VEBA for retirement>
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The Schwartz’s savings with a VEBA
Without a VEBA
With a VEBA
Employer annual VEBA contribution $0
$900
Health care expenses/year
$500
VEBA account
Remaining balance carried forward
$400
Balance after 5 years1
$2,000
The Schwartz’s story is a hypothetical example for purposes of illustration only.
1 Does not include any interest that may be earned on balances over $1,000.
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Paired with an FSA
VEBA
FSA
Employer VEBA contribution
$900 $0
Your pre-tax2 FSA contribution
Health care expenses: Medical $500 and dental and vision $400
Account balances after expenses – yr. 1
VEBA balance after 5 years1
$4,500
Use this slide if audience appropriate or delete
The Schwartz’s story is a hypothetical example for purposes of illustration only.
1 Does not include any interest that may be earned on balances over $1,000.
2 Additional tax savings may apply depending on your tax bracket. See your tax advisor for details.
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Paired with an HSA – VEBA limited
VEBA
HSA
Employer contribution
$900
Your pre-tax HSA contribution $0
$1,200
Health care expenses: Medical $500 and dental and vision $400
$400
$500
Account balances after expenses – yr. 1
$1,600
Account balances after 5 years1
$2,500
$8,000
Tax savings with HSA contributions2 – yr. 1
$300
Use this slide if audience appropriate or delete
The Schwartz’s story is a hypothetical example for purposes of illustration only.
1 Does not include any interest that may be earned on balances over $1,000.
2 Assumes a 25% tax bracket. Actual tax savings will depend on HSA contributions applicable State tax rates and personal tax situation. Please consult your tax adviser for details.
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Paired with an HSA – VEBA frozen
VEBA
HSA
Employer contribution
$900
Your pre-tax HSA contribution $0
$1,200
Health care expenses: Medical $500 and dental and vision $400
Account balances after expenses – yr. 1
Account balances after 5 years2
$4,500
$6,000
Tax savings with HSA contributions1 – yr. 1
$300
Use this slide if audience appropriate or delete
The Schwartz’s story is a hypothetical example for purposes of illustration only.
1 Does not include any interest that may be earned on balances over $1,000.
2 Assumes a 25% tax bracket. Actual tax savings will depend on HSA contributions applicable State tax rates and personal tax situation. Please consult your tax adviser for details.
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Qualified expenses
Expenses you can pay for:
These you can’t pay for:
Current health insurance monthly premiums while you’re employed
Premiums deducted from payroll pre-tax
Costs that aren’t considered qualified medical expenses as defined by the IRS
Medical expenses your plan doesn’t cover:
Out-of-pocket expenses until you reach your deductible
Copayments, coinsurance and prescription drugs
Health insurance premiums like COBRA during a job transition, or Medicare in retirement
Other medical expenses and insurance premiums during retirement
Dental and vision care expenses not covered by your health plan
Premiums for long term care insurance
Always save your receipts to ensure proper validation of expenses, as required by the IRS.
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After you’re enrolled
Receive your SelectAccount I.D. by mail
Register at SelectAccount.com
Receive your debit card by mail
Get the mobile app
Pay providers with your debit card or submit claims for reimbursement
Debit Card – give you choice 14
Available on all VEBA & FSA accounts
One card for multiple products
Smart Card
Accepted everywhere Visa is accepted
No ATM
No Fees for Debit Card
Spouse or additional cards for no cost
Some substantiation required (VEBA/FSA)
SAVE RECEIPTS!
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Manage your account at SelectAccount.com
View account activity and check balances
Download forms and upload receipts
Request additional debit cards
Manage beneficiaries
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Monday thru Friday 7 a.m. to 8 p.m. CST
Let’s get started
Our expert service team is ready to help.
SelectAccount.com
Adjust times to the appropriate time zone in which you are presenting
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Thank You!
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