Page 10 - Franklin Madison 2022 Benefits Guide
P. 10
Medical Plan Options
The medical coverage will now be ofered Cigna Open Access Plus (OAP) Plans
through Cigna. Franklin Madison ofers three (Basic and Enhanced)
medical plans, each of which provide access The OAP Basic and OAP Enhanced Plans are
to quality care and comprehensive coverage. traditional healthcare plans with higher premiums
They are: and lower copays, deductibles and coinsurance than
y Cigna OAP Basic the Consumer Choice Plan. Although they do not
y Cigna OAP Enhanced ofer a special account to save for future healthcare
expenses, you may save for anticipated costs
y Cigna HSA OAP annually and pre-tax through a Flexible Spending
Cigna HSA OAP Plan Account (FSA). These funds are not portable,
however, you can rollover a maximum of $550 into
The HSA OAP Plan is a high deductible Cigna the next plan year. Saving for future healthcare
healthcare plan paired with a tax-advantaged Health would require a personal after-tax savings account.
Savings Account (HSA) through HSA Bank. The plans ofer the following:
HSA OAP Plan premiums are lower than the POS y In- and out-of-network care
plans, so you may save for future medical expenses y Preventive covered at 100% in-network
in the HSA. Funds in the HSA can be used to pay y No referrals for providers required
for any out-of-pocket medical costs, including your
deductible. Coverage Levels
The plan ofers the following: Coverage levels are available for:
y In- and out-of-network care y Employee
y Preventive covered at 100% in-network y Employee + Child(ren)
y No referrals for providers required y Employee + Spouse
y The company contributes up to $600 to the HSA y Employee + Family
for individual coverage and up to $1,200 for
all other coverage levels. Simply complete an Decline Coverage
annual preventive exam to qualify for the full If you decline medical coverage when you irst
company contribution become eligible, you will have to wait until the
y The HSA can be invested, funds will roll over next annual enrollment to elect it, unless you have
from year to year, and the account is portable a qualiied life status change during the year, as
explained on page 6.
10
The medical coverage will now be ofered Cigna Open Access Plus (OAP) Plans
through Cigna. Franklin Madison ofers three (Basic and Enhanced)
medical plans, each of which provide access The OAP Basic and OAP Enhanced Plans are
to quality care and comprehensive coverage. traditional healthcare plans with higher premiums
They are: and lower copays, deductibles and coinsurance than
y Cigna OAP Basic the Consumer Choice Plan. Although they do not
y Cigna OAP Enhanced ofer a special account to save for future healthcare
expenses, you may save for anticipated costs
y Cigna HSA OAP annually and pre-tax through a Flexible Spending
Cigna HSA OAP Plan Account (FSA). These funds are not portable,
however, you can rollover a maximum of $550 into
The HSA OAP Plan is a high deductible Cigna the next plan year. Saving for future healthcare
healthcare plan paired with a tax-advantaged Health would require a personal after-tax savings account.
Savings Account (HSA) through HSA Bank. The plans ofer the following:
HSA OAP Plan premiums are lower than the POS y In- and out-of-network care
plans, so you may save for future medical expenses y Preventive covered at 100% in-network
in the HSA. Funds in the HSA can be used to pay y No referrals for providers required
for any out-of-pocket medical costs, including your
deductible. Coverage Levels
The plan ofers the following: Coverage levels are available for:
y In- and out-of-network care y Employee
y Preventive covered at 100% in-network y Employee + Child(ren)
y No referrals for providers required y Employee + Spouse
y The company contributes up to $600 to the HSA y Employee + Family
for individual coverage and up to $1,200 for
all other coverage levels. Simply complete an Decline Coverage
annual preventive exam to qualify for the full If you decline medical coverage when you irst
company contribution become eligible, you will have to wait until the
y The HSA can be invested, funds will roll over next annual enrollment to elect it, unless you have
from year to year, and the account is portable a qualiied life status change during the year, as
explained on page 6.
10
