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Health Savings Accounts A new health insurance  OPTION for ACPL employees   beginning 1/1/09 August 21, 2008
Do you ever feel … <ul><li>… That you work all night & you work all day just to pay the bills you have to pay? </li></ul><...
Do you ever feel … <ul><li>…That in your dreams you have a man (Jeff!)? </li></ul><ul><li>That could get you a new health ...
(Money, Money, Money …) <ul><li>…You’d still have to work all day </li></ul><ul><li>But check out how this HSA would pay… ...
Musical Interlude… <ul><li>For 60 seconds! </li></ul>
Please remember… <ul><li>All 2009 numbers are ESTIMATES ONLY! </li></ul><ul><li>EE = Employee </li></ul><ul><li>ER = Emplo...
What is an HSA? <ul><li>Bank account set up to help pay for uninsured medical expenses  </li></ul><ul><li>Goes with less $...
The BIG difference? <ul><li>In current plan,  EE pays : </li></ul><ul><ul><li>Flat dollar co-pay amounts for  (Doc, ER, Me...
The BIG difference? <ul><li>In HDHP,  EE pays : </li></ul><ul><ul><li>Everything!  Until deductible/OOP MAX is met </li></...
HDHP vs ACPL PHP 2008 In-Network To satisfy FAM deductible, one member satisfies, then all others COMBINED can satisfy FAM...
HDHP vs ACPL PHP 2008 Out-of-Network To satisfy FAM deductible, one member satisfies, then all others COMBINED can satisfy...
Why would anyone sign-up for an HSA?? <ul><li>There are several reasons…let’s talk premium … </li></ul>
Estimated Monthly Premiums  based on 2008  - $118 (35%) $221 $339 Family EE contrib - $33 (39%) $52 $85 Single EE contrib ...
ACPL ESTIMATED Deposits into HSA <ul><li>Each Month, ACPL deposits $71 ($852/yr) (IND) or $90 ($1,080/yr) (FAM) into your ...
Employee Deposits into HSA <ul><li>Each year EE may contribute to his/her HSA:  </li></ul><ul><ul><li>Up to $3,000 (IND) a...
Tax savings for employees in HSAs <ul><li>EE $$ into HSA is  tax free   </li></ul><ul><li>ER $$ into HSA is  tax free   </...
How to tell if HSAs are good for ME? <ul><li>Probably good choice if you think you’ll have few claims to pay with your ACP...
How to tell if HSAs are good for ME? <ul><li>Probably good choice if you want to pro-actively manage your own healthcare <...
How to tell if HSAs are good for ME? <ul><li>You’re looking to retire soon ,  want $ in HSA for COBRA until Medicare  </li...
ACPL “Corporate Reimbursement” <ul><li>Not expected to be part of HSA </li></ul><ul><li>Probably won’t be continued  for t...
Why is ACPL Offering this?? <ul><li>Like Wellness Credits, over long term, people will help us change behaviors…to </li></...
HSA Q & A <ul><li>Q - Can you change back to traditional PHP in 2010? </li></ul><ul><li>A – Yes </li></ul><ul><li>Q – Can ...
HSA Q & A <ul><li>Q – How with this actually work – when getting services?  </li></ul><ul><li>A –  </li></ul><ul><ul><li>S...
HSA Q & A <ul><li>Q – When will ACPL contrib be added to the HSA? </li></ul><ul><li>A – At the beginning of each MONTH  </...
HSA Q & A <ul><li>Q – Will you have to pay back ACPL $$$ if you leave without using the ACPL money in HSA? </li></ul><ul><...
Education Plan <ul><li>August/September </li></ul><ul><ul><li>table tents </li></ul></ul><ul><ul><li>Brief email “teasers”...
HR Blog <ul><li>Health Savings Account Questions & Answers will be posted on:  </li></ul><ul><li>http://acplhrqa.blogspot....
<ul><li>The End! </li></ul>
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HSA Slideshow

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See the presention of the ACPL health savings account option for 2009 and learn the benefits for you.

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HSA Slideshow

  1. 1. Health Savings Accounts A new health insurance OPTION for ACPL employees beginning 1/1/09 August 21, 2008
  2. 2. Do you ever feel … <ul><li>… That you work all night & you work all day just to pay the bills you have to pay? </li></ul><ul><li>Ain’t it sad? </li></ul><ul><li>And does it seem like there still is not a single penny left for you? </li></ul><ul><li>That’s too bad! </li></ul>
  3. 3. Do you ever feel … <ul><li>…That in your dreams you have a man (Jeff!)? </li></ul><ul><li>That could get you a new health plan??!! </li></ul>
  4. 4. (Money, Money, Money …) <ul><li>…You’d still have to work all day </li></ul><ul><li>But check out how this HSA would pay… </li></ul><ul><li>And remember, this is about Money, Money, Money …so talk it over with your honey… </li></ul><ul><li>It’s about Money, Money, Money! </li></ul>
  5. 5. Musical Interlude… <ul><li>For 60 seconds! </li></ul>
  6. 6. Please remember… <ul><li>All 2009 numbers are ESTIMATES ONLY! </li></ul><ul><li>EE = Employee </li></ul><ul><li>ER = Employer (ACPL) </li></ul>
  7. 7. What is an HSA? <ul><li>Bank account set up to help pay for uninsured medical expenses </li></ul><ul><li>Goes with less $$ health plan (HDHP) </li></ul><ul><li>(EE + ER save on premium) </li></ul><ul><li>Part of ER savings get passed along to EE as monthly deposits to HSA to help with high deductible/OOP max (& medical expenses not reimbursed) </li></ul><ul><li>EEs encouraged to deposit all or part of premium savings </li></ul><ul><li>HSA $$ OWNED BY EE </li></ul>
  8. 8. The BIG difference? <ul><li>In current plan, EE pays : </li></ul><ul><ul><li>Flat dollar co-pay amounts for (Doc, ER, Meds, etc) </li></ul></ul><ul><ul><li>100% co-insurance items like X-Rays, Lab work, In-patient until deductible is met </li></ul></ul><ul><ul><li>Then EE pays 20% until OOP Max is met </li></ul></ul><ul><ul><li>After OOP met, EE pays only co-pays </li></ul></ul>
  9. 9. The BIG difference? <ul><li>In HDHP, EE pays : </li></ul><ul><ul><li>Everything! Until deductible/OOP MAX is met </li></ul></ul><ul><ul><ul><li>EXCEPT Preventative care covered at 100% (mammograms, annual check-ups, etc) </li></ul></ul></ul><ul><ul><li>Nothing! After Deductible/OOP is met </li></ul></ul>
  10. 10. HDHP vs ACPL PHP 2008 In-Network To satisfy FAM deductible, one member satisfies, then all others COMBINED can satisfy FAM deduct In HDHP, Deductible = Out of Pocket MAX! $2,500 $1,250 2009 PHP Out of Pocket MAX $5,000 $500 $2,500 $500 FAM $1,250 2008 PHP Out of Pocket MAX $2,500 $250 $250 IND 2009 HDHP Out of Pocket MAX 2009 PHP Annual Deductibl 2008 PHP Annual Deductible
  11. 11. HDHP vs ACPL PHP 2008 Out-of-Network To satisfy FAM deductible, one member satisfies, then all others COMBINED can satisfy FAM deduct In HDHP, Deductible = Out of Pocket MAX! $5,000 $2,500 2009 PHP Out of Pocket MAX $15,000 $1,000 $5,000 $1,000 FAM $2,500 2008 PHP Out of Pocket MAX $7,500 $500 $500 IND 2009 HDHP Out of Pocket MAX 2009 PHP Annual Deductibl 2008 PHP Annual Deductible
  12. 12. Why would anyone sign-up for an HSA?? <ul><li>There are several reasons…let’s talk premium … </li></ul>
  13. 13. Estimated Monthly Premiums based on 2008 - $118 (35%) $221 $339 Family EE contrib - $33 (39%) $52 $85 Single EE contrib - $489 (35%) $909 $1,398 Family Total premium - $178 (39%) $281 $459 Single Total premium Difference HDHP Traditional PHP
  14. 14. ACPL ESTIMATED Deposits into HSA <ul><li>Each Month, ACPL deposits $71 ($852/yr) (IND) or $90 ($1,080/yr) (FAM) into your HSA account </li></ul><ul><li>Bank account to pay for medical expenses not reimbursed by insurance (cough syrup, bandages, co-pays, co-insurance, deductibles, etc.) </li></ul><ul><li>It’s your money! (spend it on healthcare, save it, use it in retirement) </li></ul><ul><li>You don’t ever lose it – but must be spent on healthcare </li></ul>
  15. 15. Employee Deposits into HSA <ul><li>Each year EE may contribute to his/her HSA: </li></ul><ul><ul><li>Up to $3,000 (IND) and $5,950 (FAM) </li></ul></ul><ul><li>EEs can take all or part of their lower health insurance premium and put in HSA – so $$ are there to handle the high OOP maximums </li></ul><ul><li>EE + ER contributions can’t exceed deductible (IND $2500 – 852 = $1648) </li></ul><ul><li>You can save money in “good” (health) years to pay for bills in “bad” years </li></ul>
  16. 16. Tax savings for employees in HSAs <ul><li>EE $$ into HSA is tax free </li></ul><ul><li>ER $$ into HSA is tax free </li></ul><ul><li>Gains on HSA money is tax free </li></ul><ul><li>All HSA $$ are tax free when withdrawn - if for health related expenses including health insurance </li></ul>
  17. 17. How to tell if HSAs are good for ME? <ul><li>Probably good choice if you think you’ll have few claims to pay with your ACPL contribution (pay lower premiums and keep the monthly payments in the bank) </li></ul><ul><li>Probably bad choice if you guess your claim amount amounts to hit the OOP maximums </li></ul>
  18. 18. How to tell if HSAs are good for ME? <ul><li>Probably good choice if you want to pro-actively manage your own healthcare </li></ul><ul><ul><li>Do you want to request generic drugs? </li></ul></ul><ul><ul><li>Try to use family doctors instead of specialists? </li></ul></ul><ul><ul><li>Try to find over the counter meds? </li></ul></ul><ul><ul><li>Shop for best buy on drugs, medical procedures? </li></ul></ul>
  19. 19. How to tell if HSAs are good for ME? <ul><li>You’re looking to retire soon , want $ in HSA for COBRA until Medicare </li></ul><ul><li>You like the idea of moving the control from the insurance company to YOU </li></ul>
  20. 20. ACPL “Corporate Reimbursement” <ul><li>Not expected to be part of HSA </li></ul><ul><li>Probably won’t be continued for those staying with traditional PHP coverage either </li></ul>
  21. 21. Why is ACPL Offering this?? <ul><li>Like Wellness Credits, over long term, people will help us change behaviors…to </li></ul><ul><ul><li>… Eat better </li></ul></ul><ul><ul><li>… Be healthier </li></ul></ul><ul><ul><li>… Be better consumers of health care </li></ul></ul><ul><ul><li>When this happens, ACPL + EEs will save money </li></ul></ul><ul><li>Premium savings for ACPL in 2009 </li></ul>
  22. 22. HSA Q & A <ul><li>Q - Can you change back to traditional PHP in 2010? </li></ul><ul><li>A – Yes </li></ul><ul><li>Q – Can you keep unused ACPL contrib if you change to PHP traditional plan in 2010? </li></ul><ul><li>A - Yes </li></ul>
  23. 23. HSA Q & A <ul><li>Q – How with this actually work – when getting services? </li></ul><ul><li>A – </li></ul><ul><ul><li>Show PHP card to provider </li></ul></ul><ul><ul><li>Get service </li></ul></ul><ul><ul><li>Provider bills PHP </li></ul></ul><ul><ul><li>PHP processes bill </li></ul></ul><ul><ul><li>Tells EE how much to pay </li></ul></ul>
  24. 24. HSA Q & A <ul><li>Q – When will ACPL contrib be added to the HSA? </li></ul><ul><li>A – At the beginning of each MONTH </li></ul><ul><li>Q - What happens if I use ACPL (or my own contribs) for non-eligible expenses? </li></ul><ul><li>A – Employee is responsible for using money within rules of plan (Misused HSA money becomes taxable with penalty) </li></ul><ul><li>Q - Should I save receipts? Are their audits? </li></ul><ul><li>A - Yes! </li></ul>
  25. 25. HSA Q & A <ul><li>Q – Will you have to pay back ACPL $$$ if you leave without using the ACPL money in HSA? </li></ul><ul><li>A – No, employees own the money. </li></ul><ul><li>Q – What if I get slammed with big bill in first month – no $ in HSA to cover!? </li></ul><ul><li>A – Providers becoming increasingly accommodating on “payment plans” </li></ul>
  26. 26. Education Plan <ul><li>August/September </li></ul><ul><ul><li>table tents </li></ul></ul><ul><ul><li>Brief email “teasers” </li></ul></ul><ul><ul><li>PowerPoint on Insite </li></ul></ul><ul><ul><li>Power point w/voice over on DVD </li></ul></ul><ul><ul><li>Employee meetings at MAI & Branches </li></ul></ul>
  27. 27. HR Blog <ul><li>Health Savings Account Questions & Answers will be posted on: </li></ul><ul><li>http://acplhrqa.blogspot.com/ </li></ul>
  28. 28. <ul><li>The End! </li></ul>

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