Page 10 - 2017 Benefits Enrollment Busey
P. 10
2017 BENEFITS ENROLLMENT
CDHP and 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 percent 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 seat and in better control of how much you spend on your
healthcare.
10 FIRST BUSEY CORPORATION
CDHP and 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 percent 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 seat and in better control of how much you spend on your
healthcare.
10 FIRST BUSEY CORPORATION
