To be eligible for the HSA:

• You must be covered by a qualified high-deductible health plan (HDHP).
• You cannot be covered by another health plan, including Medicare.
• You cannot be claimed as a dependent on another individual’s tax return.
• You and your spouse cannot be participating in a full-purpose Flexible Spending Account.

Marvell’s Contributions

Marvell's contribution to your HSA will be based on the following funding schedule depending on the quarter in which you elect the HSA (by selecting an amount from $0 up to the IRS maximum through the Benefits Enrollment portal). Please note that if you are eligible for an HSA, you must enter an Employee Funding dollar amount during the enrollment flow in order for your HSA to be opened and funded by Marvell.   

_{*Includes the Employee + Spouse, Employee + Children, and Employee + Family coverage levels
**Due to IRS HSA regulations, employees with eligibility dates after 12/1 are not eligible to contribute or receive employer funding.}

Your Contributions

In 2026, you can contribute up to the IRS maximum (including employer contributions):

_{*Employees ages 55 or older can contribute an additional $1,000 to their HSA.}

The amount you elect to contribute will be divided by the number of paychecks remaining in the calendar year.

Updating Your Contributions

You can update your HSA election at any time (no qualifying life event required) by going to the Benefits Enrollment system, clicking Update my Benefits and selecting the “Change of HSA Contribution” life event. Please note, the effective date is the date you are submitting the change in the system. 

Your HSA grows through:

• Contributions made by Marvell
• Optional contributions made by you
• Rollovers from any existing HSAs you have (see “Roll Over an Existing HSA to the Marvell HSA” below)
• Interest and investment earnings

Once you have a balance of $500, you can begin investing your HSA balance in a variety of ways, similar to the 401(k) Plan. Your HSA investment earnings grow tax-free, and withdrawals for eligible expenses are also tax-free. You need to maintain a minimum cash balance of $500 in your HSA to continue to invest your HSA funds.

For complete details on investing your HSA and your fund options, review the following information: 

• Schwab Health Savings Brokerage Account Welcome Brochure 
• HSA Investment Guide
• Health Savings Brokerage Accounts Overview
• Health Saving Brokerage Accounts FAQs

• You pay no federal taxes or state taxes* on your HSA contributions when they go into your account, reducing your taxable income.
• You pay no taxes* when you use your HSA funds to pay for eligible expenses.
• Any interest and investment earnings grow tax-free.*

*Note: Employer contributions to HSAs may be subject to state taxes in California, Alabama and New Jersey.

Unlike a Health Care FSA, your HSA balance carries over from year to year. Plus, you take it with you if you retire or leave Marvell.

You choose how and when you want to use your HSA funds for eligible health care out-of-pocket expenses. Eligible expenses include deductibles, coinsurance, and copays for medical, prescription drugs, dental, vision, and hearing expenses for you, your spouse, and dependents. 

You can use your HSA to reimburse eligible expenses for yourself, your spouse, and your dependents, as long as your spouse and dependents do not file separate tax returns. Your spouse and dependents do not need to be enrolled under your medical plan for their expenses to be considered eligible.

If you want to roll over an account that you have with a previous employer, download the HealthEquity transfer form.

Helpful notes:

• Section II is the information of the custodian your transferring your HSA from
• Once completed, return the form to Health Equity, directions can be found in the top left corner of the document.
• Health Equity will partner with your HSA custodian to complete the roll over process. 
• A $25 transfer fee will be applicable 

The IRS does not allow rollovers from an HSA to a 401(k) or IRA, and you cannot roll over funds from a 401(k) to an HSA.

HSA balances go with you, regardless of whether you stop contributing, retire or leave your job. The dollars in your account are never taxed if they’re withdrawn for qualified health expenses. If funds are withdrawn to pay for non-qualified medical expenses before age 65, they are taxed, and an additional 20% penalty is applied. After age 65, funds can be withdrawn without a penalty, but income tax will be owed if funds are not used for qualified health expenses.

If you leave Marvell or are no longer enrolled in the Marvell Anthem HDHP, your HSA and funds will remain yours, but the account will be converted into an individual account at HealthEquity. You will continue to use the same HSA card and login information for the Health Equity portal. You’ll be required to pay a monthly administrative fee of $3.95. You may choose to roll over your funds to an administrator of your choice. Contact your new administrator for a rollover form and instructions.

After you've enrolled in the HDHP, register your HSA with Health Equity so you can manage your account. You can access your account through OKTA with SSO or directly through the Health Equity portal at My.HealthEquity.com. 

Already Have a Health Equity HSA From Your Previous Employer? 

If you have a Health Equity account from a previous employer, your Marvell account will be linked to that account. Your username and password will remain the same as before and you can continue to use the same HSA card. If you need help logging in or requesting cards, you can call the Health Equity member services at (866) 296-2852.

For compliance with the Customer Identification Program rules under the USA PATRIOT Act, you may be asked to provide proof of identity to open an HSA.

Note: IRS rules specify that if you enroll in the HDHP with an effective date of December 2 or later, you cannot contribute to your HSA and you are not eligible for an employer contribution until January 1 of the following calendar year.

New enrollees in HSA plan will automatically receive a HSA card within your Health Equity welcome packet. This packet will arrive within two weeks of enrolling. 

Employees are allowed two additional cards at no cost. The two additional cards can be for a dependent or to replace a lost card. Any card requested after the first 3 (the first card plus the 2 additional cards) will have a $5.00 fee. The fee would be taken directly from the members HSA balance. You'll will be able to request additional cards from the member portal. 

Please note, if you have an existing HSA with Health Equity from a previous employer, your HSA will be linked to that account. Additionally, your former HSA card will work for your new Marvell HSA. If you need help logging in or requesting cards, you can call the Health Equity member services at (866) 296-2852.

Before you can use your HSA to pay for eligible expenses, you must accumulate enough funds in your account to pay for those eligible expenses. As your balance grows, you can choose when and how to use the funds in your account for qualified expenses.

Log in to my.healthequity.com to manage your eligible expenses and transactions. You can even upload copies of your receipts.

There are no filing deadlines. As long as the expenses were qualified and incurred after the date the HSA was opened, you can withdraw the funds from your HSA at any time this year or in the future.

Keep your receipts. You should save your receipts for tax purposes, even though you don’t need to submit receipts when you’re reimbursing yourself with your HSA dollars. If requested by the IRS, you are responsible for providing documentation for the expenses charged to your HSA.

The funds you contribute toward an HSA roll over from year to year—the money is yours to invest and grow pre-tax to help you save for expenses in retirement. You must be enrolled in the Marvell Anthem HDHP to enroll in the Marvell HSA with HealthEquity.

When you contribute to a Flexible Spending Account (FSA), the money must be used within the calendar year and does not roll over. You cannot enroll in a Health Care FSA if you’re contributing to an HSA. However, you can still enroll in a Day Care FSA and a Limited Health Care FSA if you’re contributing to an HSA. 

You’re responsible for taxes owed should your HSA contributions exceed the IRS annual limit. While the IRS guidelines allow you to fund an HSA for medical expenses on a pre-tax basis, not all states are required to comply. Alabama, California and New Jersey have not enacted legislation to allow pre-tax treatment of HSA contributions or earnings for state taxes. If you reside in one of these states, additional state taxes may apply.

To ensure compliance with Internal Revenue Service Circular 230, we inform you that any U.S. federal tax advice contained in these web pages and the account agreements are not intended or written to be used, and cannot be used, for the purpose of avoiding penalties under the Internal Revenue Code or promoting, marketing or recommending to another party any tax-related matters addressed herein.

Domestic partners and a domestic partner’s children can be covered under your HDHP with HSA plan. However, the use of your HSA is regulated by the IRS; therefore, expenses incurred for your domestic partner and/or your domestic partner’s children are not eligible for reimbursement from your HSA unless they are tax-qualified dependents, as defined by the IRS. Your domestic partner can open and contribute to their own HSA bank account and can use those contributions to pay for their own medical expenses.

Please see IRS Publication 969 for more information on your HSA plan.