Page 10 - 2015 First Busey Enrollment Guide
P. 10
Beneits
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% 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 costs and prescriptions with Health
Alliance 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 have a CDHP?
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. 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 costs.
How a CDHP provides coverage
1. You pay 100% for all medical and prescription drug services up to
the plan’s annual deductible.
2. After you satisfy the annual deductible, you pay the appropriate
coinsurance until you meet the annual out-of-pocket maximum.
3. The plan pays 100% of eligible expenses once you meet the annual
out-of-pocket maximum.
10
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% 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 costs and prescriptions with Health
Alliance 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 have a CDHP?
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. 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 costs.
How a CDHP provides coverage
1. You pay 100% for all medical and prescription drug services up to
the plan’s annual deductible.
2. After you satisfy the annual deductible, you pay the appropriate
coinsurance until you meet the annual out-of-pocket maximum.
3. The plan pays 100% of eligible expenses once you meet the annual
out-of-pocket maximum.
10
