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If you enroll in a Wendy’s medical plan, you’ll have a tax-advantaged account called a Health Savings Account, or HSA, that you can use to pay for eligible health care expenses. Here’s how it works:
- Wendy’s contributes to your HSA: That’s free money from the company that’s yours to spend on eligible health care expenses.
- You can also contribute to your HSA, up to the 2024 IRS limits ($4,150 for employee-only coverage or $8,300 if you’re covering dependents, including Wendy’s contribution). Your contributions will be deducted from your paycheck. Remember, you can stop, start or change your contribution amount at any time if your financial situation changes.
- To help you save even more, Wendy’s will also match your HSA contributions dollar-for-dollar, up to $1,000 per year!
Wendy’s HSA Contributions
| MyChoice 90 | MyChoice 80 | MyChoice 70 | ||
| Annual Contribution1,2 This is the total amount Wendy’s will contribute to your HSA. |
Employee Only | $250 | $300 | $400 |
| Family | $500 | $600 | $800 | |
| Per Biweekly Pay Contribution This is the amount Wendy’s will automatically deposit into your HSA with each paycheck. |
Employee Only | $9.62 | $11.54 | $15.38 |
| Family | $19.23 | $23.08 | $30.77 | |
| Annual Matching Contribution If you choose to contribute to your HSA, Wendy’s will match your contributions up to this amount. |
Employee Only | $1,000 | $1,000 | $1,000 |
| Family | $1,000 | $1,000 | $1,000 | |
1 Wendy’s contributions to your HSA are prorated based on your hire date.
2 HSAs are available to all eligible employees who enroll in a Wendy’s medical plan. Once you select a medical plan, you will be asked a few questions to determine whether you’re eligible for an HSA. If you are not eligible, you will automatically be enrolled in a Health Reimbursement Account (HRA). Wendy’s contributes the same amount to an HSA or HRA. Important: You may only use HSA or HRA funds to pay or reimburse medical expenses for federal tax dependents. If your Domestic Partner and/or his or her children are not federal tax dependents, you cannot use HSA or HRA funds toward their medical expenses. Please consult your tax advisor for how this may impact you.
2 HSAs are available to all eligible employees who enroll in a Wendy’s medical plan. Once you select a medical plan, you will be asked a few questions to determine whether you’re eligible for an HSA. If you are not eligible, you will automatically be enrolled in a Health Reimbursement Account (HRA). Wendy’s contributes the same amount to an HSA or HRA. Important: You may only use HSA or HRA funds to pay or reimburse medical expenses for federal tax dependents. If your Domestic Partner and/or his or her children are not federal tax dependents, you cannot use HSA or HRA funds toward their medical expenses. Please consult your tax advisor for how this may impact you.
Triple-Tax Savings with an HSA
Your HSA offers three key tax advantages:1
- You contribute money before taxes, reducing your taxable income.
- The HSA dollars you spend on eligible expenses are tax-free.
- You don’t pay taxes on any interest earned.
With an HSA, it’s all about saving for a rainy day. The money is always yours, even if you leave Wendy’s — so you can spend HSA money on health care expenses as they arise, or let your account grow for future expenses or even retirement!
1 Tax advantages described here are for federal income tax purposes only. State tax treatment of contributions and earnings may vary.