By Cindy Lohrey, AVP, Payroll & Benefits Manager

Believe it or not, eventually it will be summertime. As we near the halfway point of the calendar year, here are some great benefits, tax, and savings reminders that you should think about before heading out on vacation. Take time now to review the suggestions below.

1. Think about putting more money in your HSA.
May is a great time to take stock of your healthcare costs from January to April and to plan ahead for the second half of the year. Here are some steps to take to ensure you’ll save money and have more cash available through December to pay medical bills. (And remember: North Shore matches your HSA contributions if you are enrolled in one of our medical plans.)

1. Add up this year’s out-of-pocket healthcare (you can view these on umr.com) and dental costs (check your explanation of benefits from either Delta or CarePlus).
2. Make a new estimate of your upcoming expenses (padding it for unexpected costs that may pop up if appropriate).
3. Add your estimated costs to what you’ve already spent.
4. Compare that total with how much you’ll have in your HSA account at the end of the year as you have it set up now.
5. If there’s a gap, you can increase your contribution rate now to make up the difference. To make a change:
   • If you are currently enrolled in an NSB medical plan, log in to UltiPro and go to Myself > Life Events, and complete the Life Event titled “HSA Ded Change-With Match.”
   • If you are NOT currently enrolled in an NSB medical plan, log in to Ultipro and go to Myself > Life Events, and complete the Life Event titled “HSA Ded Change-No Match.”

Remember: Your HSA funds never expire, and you don’t have to use your funds by the end of the year, so don’t worry if you go over what you actually end up spending this year.

2. Adjust your W-4.
Tax season has passed, which means it’s an excellent time to… think a little more about taxes.

Tax law changes went into effect at the start of 2018. If you did not make any adjustments to your W-4 withholdings, you might have been surprised by a smaller refund, a balance due, or even a penalty owed.

You can prevent unexpected surprises like this next tax season with a visit to this IRS tax withholding calculator. There, you can estimate your 2019 taxes and get instructions on how to update your W-4 withholdings to hopefully avoid any surprises next year. You can update your W-4 online in UltiPro by going to Myself > Pay > Income Tax. Click on “Add/Change Withholding Form (W-4)” under the “Things I Can Do” column.

3. Revisit your budgeting tools.
You may already be thinking about hitting the beach, road-tripping across the country, or eating your weight in custard (but please don’t!). And since having fun costs money, now is a good time to squirrel away a little extra cash for the next few months.

Some thoughts on saving on medical expenses: Use sites like GoodRx.com for lower prescription costs; and use TelaDoc or urgent care instead of the emergency room for issues that aren’t life-threatening.

And: Have you considered using savings apps such as Acorns, Chime, Stash, Digit, or Qapital? These apps let you round up credit or bank card expenses to the next dollar, and automatically deposit the extra money into different types of savings accounts.

4. Double-check your out-of-network coverage.
While we’re on the subject of summer fun, be sure you take a quick peek at your health plan’s out-of-network care policies before heading out of town. That way, if you need a doctor (or an ice cream headache cure) while you’re away, you’ll know where to go, how to pay, and how to get reimbursed. Even better: Make sure you take the information for TelaDoc with you wherever you go. They can help you no matter where you are.

Here’s to a healthy (and cost-effective) summer and the remainder of 2019!