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HSA Open Enrollments Sample

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A quick and simple overview of a Health Savings Account ENrollment Slide show. We use this for employee meetings to help explain the plan.

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HSA Open Enrollments Sample

  1. 1. Health Savings Account (HSA) An Exciting New Benefit for You and Your Family An Introduction
  2. 2. What is a consumer driven health plan? <ul><ul><li>A consumer driven health plan is a financial account for covered medical expenses paired with a high-deductible medical insurance plan </li></ul></ul><ul><ul><li>It provides YOU with choice, flexibility and independence with your healthcare decisions and dollars </li></ul></ul><ul><ul><li>And, it helps you work with your physician to make healthcare decisions that are best for YOU! </li></ul></ul>Integrated CDHP = + Medical Plan Financial Account Used to provide some funding for member health care liabilities <ul><ul><li>High deductibles </li></ul></ul><ul><ul><li>Low premiums </li></ul></ul><ul><ul><li>More member responsibility </li></ul></ul>Puts member in control of utilization & account balances
  3. 3. How preventive care works . . . <ul><ul><li>Prevention and early detection are important to living a healthy lifestyle </li></ul></ul><ul><ul><ul><ul><li>The better your health, the less your healthcare costs </li></ul></ul></ul></ul><ul><ul><li>Preventive care is the foundation of your new health plan and includes: </li></ul></ul><ul><ul><ul><ul><li>Annual physical </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Annual well woman exams </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Mammograms </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Well child visits </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Diagnostic screenings (Cholesterol, cancer) </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Flu vaccines </li></ul></ul></ul></ul>
  4. 4. How the annual deductible and health coverage work … <ul><ul><li>The annual deductible is the amount you are responsible for paying before the full insurance coverage begins </li></ul></ul><ul><ul><li>All medical and pharmacy claims, excluding your preventive care, are subject to the deductible </li></ul></ul><ul><ul><li>If you have family coverage, no one in the family is eligible for the health coverage until the family deductible is satisfied </li></ul></ul><ul><ul><li>Once you have met your annual deductible your health coverage will start paying </li></ul></ul><ul><ul><li>Like traditional health plans, it will have defined coinsurance levels and out-of-pocket maximums </li></ul></ul>
  5. 5. How the Health Savings Account works . . . <ul><ul><li>This account contains money contributed annually by you and/or your employer. </li></ul></ul><ul><ul><li>The HSA is used to offset your liability. </li></ul></ul><ul><ul><ul><li>It could cover a portion of your deductible and any non-preventive services. </li></ul></ul></ul><ul><ul><ul><li>It may also cover the expenses associated with your pharmacy costs. </li></ul></ul></ul><ul><ul><li>You may choose to pay for certain health care related expenses tax-free from this account - or pay out of pocket and leave the money in the fund to earn tax-free interest … it is YOUR choice!! </li></ul></ul>
  6. 6. How the out-of-pocket maximum works . . . <ul><ul><li>The HSA puts a cap on your total cost with an Out-of-Pocket Maximum - so you always know the most you would pay in a given year for your covered services </li></ul></ul><ul><ul><li>Everything that you pay towards the annual deductible and coinsurance will be applied toward the out-of-pocket maximum </li></ul></ul><ul><ul><li>After this maximum has been met, the plan will usually pay 100% of covered services </li></ul></ul>
  7. 7. What is an HSA? <ul><ul><li>An HSA is an individually owned, financial account that you can use to accumulate tax-free funds to pay for qualified health expenses for yourself, your spouse, and dependents </li></ul></ul><ul><ul><li>Contributions are tax free and can be invested in a lump sum or periodic deposits by you or your employer </li></ul></ul><ul><ul><li>Unused HSA funds at the end of the year will continue to grow and earn tax-free interest and can be invested in a variety of investment options </li></ul></ul>
  8. 8. Accessing Funds <ul><ul><li>Maximizing electronic card technology </li></ul></ul><ul><ul><ul><li>MasterCard® branded debit card </li></ul></ul></ul><ul><ul><ul><li>Available for use at Point-of-Service with Signature or PIN </li></ul></ul></ul><ul><ul><ul><li>Withdraw cash at ATM to replenish funds paid out-of-pocket </li></ul></ul></ul><ul><ul><ul><li>Can elect to receive additional cards for your spouse or dependents to use </li></ul></ul></ul><ul><ul><li>Other payment options </li></ul></ul><ul><ul><ul><li>Online Bill Payment (pay the provider, pay yourself) </li></ul></ul></ul><ul><ul><ul><ul><li>no fee, but limited to one transaction daily </li></ul></ul></ul></ul><ul><ul><ul><li>Checks (available for purchase online in quantities of 6) </li></ul></ul></ul>
  9. 9. How Medical Claims are Processed Note: Timing of HSA fund withdrawal need not be associated with timing of claim Claim processed. If you are responsible for any payment, an explanation of Payment (EOP) is mailed to the physician 3 5 Payment is made by you to the physician $ $ $ $ $ $ You may withdraw money from Health Savings Account, using your HSA debit card or a check, to pay for claim 5 $ $ Present the Member ID Card Physician 1 Member EOB sent to you Physician receives EOP (Explanation of Payment) 4 4 2 Physician sends claim to health insurance carrier H.S.A Plan
  10. 10. How Pharmacy Claims are Processed Note: Timing of HSA fund withdrawal need not be associated with timing of claim Member $ $ $ $ $ $ 3 If you paid out-of-pocket for your prescriptions, you can reimburse yourself from your HSA $ You can use debit card to access HSA funds directly for payment $ Pharmacist 1 Present ID Card and pay for prescriptions 2 Pharmacist sends claim to Cost of prescription(s) applied to deductible /out-of-pocket maximum
  11. 11. Want more information? <ul><li>If you would like more information on consumer driven health plans such as H.S.A’s, HRA’s, MERP’s and how your business could benefit from them, please contact us at 800/924-6718 or visit our website at http://www.emagrouponline.com </li></ul><ul><li>Note: This is a sample example, your plan may vary in it’s details. </li></ul>

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