Page 2 - Future Steps
P. 2
Future Steps for Carolyn
Carolyn is a single mom with two young children. Like all kids, they’re into
everything. The four year old, Sam, had a bad fall at day care and had to be
rushed to the emergency room. Sam required two follow-up visits to the doctor
before he was good to go. Fortunately, the kids had no other mishaps, and she
was able to get her annual well woman exam done before the end of the year.
How does Future Steps take care of Carolyn’s costs, and what would she have
spent in the PPO plans?
2017 2017 PPO Plan 2016 PPO Plan
Quoted
Employee/Child Coverage Future Steps Renewal Rates Actual
1 ER Visit for Sam
(average cost $1,200) $1,200 $1,000 $500
2 doctors visits for Sam $50 $40
($200 per visit) $400 (2 $25 copays) (2 $20 copays)
Well Woman Exam and Well $0 $0 $0
Child Exams for Both Children (covered 100%) (covered 100%) (covered 100%)
Carolyn’s Costs for Services $1,600 $1,050 $540
She Used
Carolyn’s Premiums $2,784 $3,460 $3,420
Carolyn’s Total Out-of-Pocket
Medical Costs $4,384 $4,510 $3,960 Note: Carolyn’s premiums went
W&T Offshore HSA Contribution $1,500 down $636 from 2016 and $676
from the renewal PPO. Carolyn
HSA Funds Used ($1,500) was careful to use an in-network
Funds Remaining in Carolyn’s doctor for Sam. Carolyn used all
HSA Account $0 of her HSA account. She gets the
Carolyn’s Actual Medical Costs tax advantage of putting money
in 2017 $2,884 $4,510 $3,960 into the account pre-tax (lowering
her taxable income). She also gets
to pay for medical expenses from
the account with pre-tax dollars.
The actual cost to Carolyn for her
medical expenses went down
signiicantly.
Carolyn is a single mom with two young children. Like all kids, they’re into
everything. The four year old, Sam, had a bad fall at day care and had to be
rushed to the emergency room. Sam required two follow-up visits to the doctor
before he was good to go. Fortunately, the kids had no other mishaps, and she
was able to get her annual well woman exam done before the end of the year.
How does Future Steps take care of Carolyn’s costs, and what would she have
spent in the PPO plans?
2017 2017 PPO Plan 2016 PPO Plan
Quoted
Employee/Child Coverage Future Steps Renewal Rates Actual
1 ER Visit for Sam
(average cost $1,200) $1,200 $1,000 $500
2 doctors visits for Sam $50 $40
($200 per visit) $400 (2 $25 copays) (2 $20 copays)
Well Woman Exam and Well $0 $0 $0
Child Exams for Both Children (covered 100%) (covered 100%) (covered 100%)
Carolyn’s Costs for Services $1,600 $1,050 $540
She Used
Carolyn’s Premiums $2,784 $3,460 $3,420
Carolyn’s Total Out-of-Pocket
Medical Costs $4,384 $4,510 $3,960 Note: Carolyn’s premiums went
W&T Offshore HSA Contribution $1,500 down $636 from 2016 and $676
from the renewal PPO. Carolyn
HSA Funds Used ($1,500) was careful to use an in-network
Funds Remaining in Carolyn’s doctor for Sam. Carolyn used all
HSA Account $0 of her HSA account. She gets the
Carolyn’s Actual Medical Costs tax advantage of putting money
in 2017 $2,884 $4,510 $3,960 into the account pre-tax (lowering
her taxable income). She also gets
to pay for medical expenses from
the account with pre-tax dollars.
The actual cost to Carolyn for her
medical expenses went down
signiicantly.
