Savings & Spending Accounts

Overview

PGTI offers you the following accounts and encourages you to take full advantage of their money-saving potential. You can enroll in them on the Compass website as a new hire, during 2024 Enrollment, or if you have a qualifying life event. Note: You must enroll in these accounts each 2024 Enrollment if you want to contribute the next year, even if you already participate.

2024 tax-advantaged accounts

Tax-free money

Money goes in tax-free* and comes out tax-free when it’s used for eligible expenses.

Convenient payroll deductions

Contribute to your accounts easily and effortlessly.

Helpful budgeting tool

Plan for upcoming expenses by setting aside money each paycheck.

“Use it or lose it” rule

You have two-and-a-half months into the following year to spend your FSA money. After that, unused money will be forfeited.

*Contributions are not subject to federal tax. However, HSA contributions are currently subject to state tax in AL and CA, both HSA and FSA contributions are subject to state tax in NJ. Consult with your tax advisor to understand the potential tax consequences of enrolling in an HSA and/or FSA.

Compare the accounts

Access your account

What’s eligible?

Here’s an example. Let’s say Tom decides to set aside $2,000 in an FSA for the year. Normally, on that money, he’d pay $480 in federal income tax, $100 in state income tax, and $153 in payroll tax. So, by contributing that $2,000 to his FSA, he’ll get $733 in tax savings for the year.

Without an FSA, Tom would pay …	Savings
24% in federal income tax	$480
5% in state income tax*	$100
7.65% in payroll tax	$153
His total tax savings for the year with an FSA	$733

This hypothetical illustration is for educational purposes only. Dollar amounts or savings will vary depending on income, state and city tax rules, and other factors. Please consult a tax, legal, or financial advisor about your own personal situation.

Health Reimbursement Account

With the Gold with HRA Plan, you will receive an employer-funded Health Reimbursement Account (HRA), administered by UnitedHealthcare, which you can use to help cover the costs of your health care.

HRA features

It’s free money. Completely funded by PGTI, without employee contributions, based on your completion of a Health Risk Assessment and biometric screening the prior year.
Works like a bank account. PGTI contributes money on your behalf to an account that can be used to pay for your eligible health care expenses. You’ll receive $500 for employee-only medical coverage or $1,000 if you cover dependents. Spend your HRA money on:

Deductibles
Coinsurance
Prescription drugs
Out-of-pocket expenses
And more

Automatically applied to your in-network claims. When you see in-network providers, money in your HRA is automatically applied to out-of-pocket expenses associated with your medical plan.
PGTI contributes to your HRA annually, and the funds are available for use at the beginning of the calendar year.
For those enrolled in the HRA and decide to enroll in a different medical plan, any accumulated HRA funds will be forfeited.
Unused money carries over at the end of each year, up to the plan deducible amount. You cannot take the money with you if you leave the company.
Can be paired with a Health Care FSA. You can set aside your own pretax money in an FSA to help cover health expenses that exceed your HRA amount.

Flexible Spending Accounts

Using an FSA is like getting a discount on everyday health and/or dependent care expenses because you’re paying with tax-free money. There are separate FSAs for health care and dependent care. Our FSAs are administered by Triad.

With FSA money, you “use it or lose it.” If you have a balance left in your FSA as year-end approaches, try to spend as much of it as you can on eligible expenses. Request reimbursement or manage your account on the Triad website.

Health Care FSA

With a Health Care FSA, you can contribute up to $3,200 for the year through pretax payroll deductions to help cover eligible medical, dental, and vision expenses.

How the Health Care FSA works

Dependent Care FSA

A Dependent Care FSA is available to all benefits-eligible team members. You can contribute up to $5,000 for the year through pretax payroll deductions to help cover your eligible dependent care expenses, including child care for children up to age 13 and care for dependent elders.

How the Dependent Care FSA works

Compare the Accounts

	HRA	Health Care FSA	Dependent Care FSA
Eligibility	Automatically provided to team members who enroll in the Gold with HRA Plan	Available to all benefits-eligible team members	Available to all benefits-eligible team members
Receive company contribution	Yes	No	No
Can only change your contribution amount …	N/A	During 2024 Enrollment or if you have a QLE	During 2024 Enrollment or if you have a QLE
Access your entire annual contribution amount as needed	Yes	Yes	No (can only access funds that have been deposited)
Use account money for…	All eligible health care expenses	All eligible health care expenses	Eligible dependent care expenses, including child care for children up to age 13 and care for dependent elders
“Use it or lose it” at year-end	No	No*	Yes

*You have two-and-a-half months into the following year to spend your Health Care FSA dollars.

You can enroll in them on the Compass website as a new hire, during Open Enrollment, or if you have a qualifying life event. Note: You must enroll in these accounts each Open Enrollment if you want to contribute the next year, even if you already participate.