Page 8 - 2017 FutureSteps
P. 8
2017 Future Steps
Future
Free Money! How the Steps Plan
Did you read that? W&T Works
is giving $1,500 annually
all employees who enroll The Future Steps plan paired with a health savings account (HSA) give you
in the Future Steps plan the power to have medical beneits along with a tool to save money. The
AND open an HSA money you contribute to your HSA is deposited tax free, and any unused
account. When you funds will roll-over each year. W&T is excited to announce they will be
think about it, this takes contributing $375 to all eligible employees on a quarterly basis. That is $1,500
your deductible down to annually that W&T is giving you to start your Future Steps savings. Please
$1,100 automatically. If keep in mind in order to receive $1,500 you must take the steps to open the
you don’t use the money HSA (instructions are on page 10).
in 2017, keep it; it’s yours
to use in the future. Your HSA works in conjunction with your Future Steps coverage. With
the health savings beneit plan you are responsible for all medical and
Read the information prescription expenses until you reach your deductible. Your HSA dollars
to the right for more can be used to help pay the health insurance deductible and other qualiied
details! medical expenses. Once you meet the calendar-year deductible, you are
responsible for a small portion of your total expense (coinsurance) and your
health insurance pays the remaining covered expenses in accordance with
the terms and conditions of your plan. Once your deductible and coinsurance
expenses total your out-of-pocket maximum, the plan pays 100% of your
eligible expenses for the remainder of the plan year.
Out-of-Pocket Expenses Examples
Example 1— Light User of Care Example 2— Heavy User of Care
(Non-Tobacco Family) (Non-Tobacco Individual)
BCBSTX Member Member BCBSTX Member Member
Cost On
Cost On
Service Negotiated Current Cost for Service Negotiated Current Cost for
Rate Plan Future Steps Rate Plan Future Steps
Annual preventive visit $400 $0 $0 4 primary care ofice $260 $140 $260
6 diagnostic ofice $450 $210 $450 visits
visits—PCP 4 specialist ofice visits $500 $240 $500
24 monthly generic Rx $672 $480 $672 2 monthly brand Rx, 6 $1,512 $900 $1,512
Reills generic Rx
16 Total brand Rx ills $928 $640 $928 1 inpatient $9,000 $1,220 $1,734
($58 avg) hospitalization
Total $2,450 $1,330 $2,050 Total $11,272 $2,500 $4,006
HSA annual seed $ $0 $1,500 HSA annual seed $ $0 $1,500
contributions contributions
Annual EE contribution $6,036 $4,950 Annual EE contribution $1,718 $1,547
Total EE out-of-pocket $7,366 $5,500 Total EE out-of-pocket $4,218 $4,052
cost cost
Difference—CDHP to -$1,866 Difference—CDHP to $166
current plan current plan
8
Future
Free Money! How the Steps Plan
Did you read that? W&T Works
is giving $1,500 annually
all employees who enroll The Future Steps plan paired with a health savings account (HSA) give you
in the Future Steps plan the power to have medical beneits along with a tool to save money. The
AND open an HSA money you contribute to your HSA is deposited tax free, and any unused
account. When you funds will roll-over each year. W&T is excited to announce they will be
think about it, this takes contributing $375 to all eligible employees on a quarterly basis. That is $1,500
your deductible down to annually that W&T is giving you to start your Future Steps savings. Please
$1,100 automatically. If keep in mind in order to receive $1,500 you must take the steps to open the
you don’t use the money HSA (instructions are on page 10).
in 2017, keep it; it’s yours
to use in the future. Your HSA works in conjunction with your Future Steps coverage. With
the health savings beneit plan you are responsible for all medical and
Read the information prescription expenses until you reach your deductible. Your HSA dollars
to the right for more can be used to help pay the health insurance deductible and other qualiied
details! medical expenses. Once you meet the calendar-year deductible, you are
responsible for a small portion of your total expense (coinsurance) and your
health insurance pays the remaining covered expenses in accordance with
the terms and conditions of your plan. Once your deductible and coinsurance
expenses total your out-of-pocket maximum, the plan pays 100% of your
eligible expenses for the remainder of the plan year.
Out-of-Pocket Expenses Examples
Example 1— Light User of Care Example 2— Heavy User of Care
(Non-Tobacco Family) (Non-Tobacco Individual)
BCBSTX Member Member BCBSTX Member Member
Cost On
Cost On
Service Negotiated Current Cost for Service Negotiated Current Cost for
Rate Plan Future Steps Rate Plan Future Steps
Annual preventive visit $400 $0 $0 4 primary care ofice $260 $140 $260
6 diagnostic ofice $450 $210 $450 visits
visits—PCP 4 specialist ofice visits $500 $240 $500
24 monthly generic Rx $672 $480 $672 2 monthly brand Rx, 6 $1,512 $900 $1,512
Reills generic Rx
16 Total brand Rx ills $928 $640 $928 1 inpatient $9,000 $1,220 $1,734
($58 avg) hospitalization
Total $2,450 $1,330 $2,050 Total $11,272 $2,500 $4,006
HSA annual seed $ $0 $1,500 HSA annual seed $ $0 $1,500
contributions contributions
Annual EE contribution $6,036 $4,950 Annual EE contribution $1,718 $1,547
Total EE out-of-pocket $7,366 $5,500 Total EE out-of-pocket $4,218 $4,052
cost cost
Difference—CDHP to -$1,866 Difference—CDHP to $166
current plan current plan
8
