Page 15 - Busey Corporation 2022 Benefits Guide
P. 15
2022 Benefits Guide
CDHP and Health
Savings Account
(HSA)
What is a Consumer-Driven
Health Plan (CDHP)?
Here are the Basics of How CDHPs
Work
Except for preventive services and certain preventive
prescriptions, you pay for 100% of your medical
and prescription drug services until you meet the
plan’s annual deductible. You have one deductible
to satisfy for both medical and prescription
drug services.
After that, you share the medical and prescription
costs with the insurance carrier until you reach your
out-of-pocket maximum amount for the year. As a
reminder, you pay the network discounted rate when
services are rendered by in-network providers.
Once you reach your out-of-pocket maximum
amount, the insurance plan will pay all of your costs;
you pay nothing more for the remainder of the
plan year.
Why Do We Offer CDHPs?
CDHPs encourage individuals to become more
active in making healthcare decisions. The actual
cost of services under a CDHP has more impact on
you than under traditional plans. Conversely, under
traditional plans, you often just pay a lat dollar
copay and may not realize the actual costs of your
doctor’s visits and prescriptions. A CDHP puts you in
the driver’s seat and in better control of how much
you spend on your healthcare.
15
CDHP and Health
Savings Account
(HSA)
What is a Consumer-Driven
Health Plan (CDHP)?
Here are the Basics of How CDHPs
Work
Except for preventive services and certain preventive
prescriptions, you pay for 100% of your medical
and prescription drug services until you meet the
plan’s annual deductible. You have one deductible
to satisfy for both medical and prescription
drug services.
After that, you share the medical and prescription
costs with the insurance carrier until you reach your
out-of-pocket maximum amount for the year. As a
reminder, you pay the network discounted rate when
services are rendered by in-network providers.
Once you reach your out-of-pocket maximum
amount, the insurance plan will pay all of your costs;
you pay nothing more for the remainder of the
plan year.
Why Do We Offer CDHPs?
CDHPs encourage individuals to become more
active in making healthcare decisions. The actual
cost of services under a CDHP has more impact on
you than under traditional plans. Conversely, under
traditional plans, you often just pay a lat dollar
copay and may not realize the actual costs of your
doctor’s visits and prescriptions. A CDHP puts you in
the driver’s seat and in better control of how much
you spend on your healthcare.
15
