FAQs

2020 and 2021 Plan Year Information

What factors should I consider when choosing a Medical Plan option?

What are the main differences between Option A, Option B and Option C?

If I enroll in Option C this year, do I have to enroll in Option C again next year?

Why are the paycheck contributions lower for Option C than for the other options?

Does the annual deductible work the same way for all three options?

Does the annual out-of-pocket maximum work the same way for all three options?

Does Option C cover preventive care in the same way as the other plans?

Does Option C cover prescription drugs in the same way as other plans?

Is there a difference in the network of doctors for the medical plan options?

What tools and resources are available to help me choose medical coverage?

What happens if I do not enroll or if I waive Medical Plan coverage during Annual Enrollment?

What are the main advantages of an HSA?

If I enroll in Medical Plan Option C, do I have to contribute to an HSA?

If I contribute to the HSA, will the entire amount of my annual contribution be available to me immediately?

Do I have to invest my HSA?

If I want to invest my HSA money, when can I start?

What happens to my investments if my cash balance falls below $500?

How does the HSA work when I need to pay a health care expense?

Can I take a distribution from my HSA for non-health care-related expenses?

Is there a limit on how much I can accumulate in my HSA over time?

If my spouse also has an HSA, is there a limit to what we can contribute together?

What if I already have an HSA from a previous employer?

What happens to my HSA if I decide to switch from Option C to a different option in the future?

What happens to my HSA if I leave Morgan Stanley?

Can I have an HSA and a Health Care FSA at the same time?

What is a Limited Purpose Flexible Spending Account (FSA)?

If I have a Health Care FSA in 2021 and I open an HSA for 2022, will I still have a grace period in early 2021 to spend any leftover FSA balances?

What are my supplemental insurance options?

What is Long-Term Care Insurance?