Page 5 - 2018 VER Benefit Guide
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Medical and Prescription Drug Embedded vs. Non-
Effective January 1, 2018, VER will partner with Cigna to administer the Embedded
medical and prescription drug programs. Cigna’s network offers access to Embedded
a wide range of in-network providers and signiicant discounts on services, Individual deductible and out-
which helps lower the cost of healthcare for you and your family. Through of-pocket limits are embedded
Cigna, you have access to extensive online resources such as care comparison into the family maximums. An
tools and health and wellness information. individual will not be required to
fulill the full family maximum
Employees will have the opportunity to review and select between two plan before the plan begins to pay
beneits.
designs. Details of the plan offerings are included in the following pages.
Review your options carefully to determine which option works best for you Non-Embedded
and your family. Individual deductibles are
not embedded into the family
How the Plans Work maximums. If dependents
are covered, the full family
PPO Plan responsibility must be satisied
before the plan will begin
A preferred provider organization (PPO) is a national network of physicians to pay beneits. There is no
and hospitals who have agreed to a discounted payment schedule. The PPO true individual limit except for
plan allows for more lexibility, but also assumes more responsibility on your employee only coverage.
part. You are not required to select a PCP in this plan; instead, select a doctor
of your choice. You may also access specialist care directly; no referrals are
required for specialist care. When you utilize network doctors, you will receive
a higher beneit level. Coverage is available for providers not in the network;
however, you will have higher out-of-pocket costs.
PPO Plan with HSA
The PPO plan with a health savings account (HSA) combines your medical
plan with a tax-favored savings account. Money in the savings account can
help pay your deductible and many other eligible expenses. Money left in
the savings account earns interest and is yours to keep, even if you leave
the company or retire. VER contributes $750 for an individual and $1,500
for family coverage into the HSA. Employees have the ability to contribute
additional pre-tax dollars up to IRS maximums, combined with the company
contribution. Employees enrolling in the HSA plan will receive the full
company contribution on January 1. HSA participants are ineligible to
contribute to a healthcare FSA.
The HSA plan will have accident, critical illness, and hospital indemnity coverages
built in to help offset the deductible in the event of an accident, critical illness, or
hospitalization.
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Effective January 1, 2018, VER will partner with Cigna to administer the Embedded
medical and prescription drug programs. Cigna’s network offers access to Embedded
a wide range of in-network providers and signiicant discounts on services, Individual deductible and out-
which helps lower the cost of healthcare for you and your family. Through of-pocket limits are embedded
Cigna, you have access to extensive online resources such as care comparison into the family maximums. An
tools and health and wellness information. individual will not be required to
fulill the full family maximum
Employees will have the opportunity to review and select between two plan before the plan begins to pay
beneits.
designs. Details of the plan offerings are included in the following pages.
Review your options carefully to determine which option works best for you Non-Embedded
and your family. Individual deductibles are
not embedded into the family
How the Plans Work maximums. If dependents
are covered, the full family
PPO Plan responsibility must be satisied
before the plan will begin
A preferred provider organization (PPO) is a national network of physicians to pay beneits. There is no
and hospitals who have agreed to a discounted payment schedule. The PPO true individual limit except for
plan allows for more lexibility, but also assumes more responsibility on your employee only coverage.
part. You are not required to select a PCP in this plan; instead, select a doctor
of your choice. You may also access specialist care directly; no referrals are
required for specialist care. When you utilize network doctors, you will receive
a higher beneit level. Coverage is available for providers not in the network;
however, you will have higher out-of-pocket costs.
PPO Plan with HSA
The PPO plan with a health savings account (HSA) combines your medical
plan with a tax-favored savings account. Money in the savings account can
help pay your deductible and many other eligible expenses. Money left in
the savings account earns interest and is yours to keep, even if you leave
the company or retire. VER contributes $750 for an individual and $1,500
for family coverage into the HSA. Employees have the ability to contribute
additional pre-tax dollars up to IRS maximums, combined with the company
contribution. Employees enrolling in the HSA plan will receive the full
company contribution on January 1. HSA participants are ineligible to
contribute to a healthcare FSA.
The HSA plan will have accident, critical illness, and hospital indemnity coverages
built in to help offset the deductible in the event of an accident, critical illness, or
hospitalization.
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