Page 16 - 2016 Open Enrollment
P. 16
Open
Enrollment
Reevaluate Your Utilization
If you switched from the Premium PPO to one of our other plans opions for
2016 you’ll immediately save in contribuions. If you enrolled in the HSA PPO
you could put that money you’re currently spending in higher contribuions
toward tax free savings into your Health Savings Account. So, if you have a
good year of claims, you won’t lose the money as it will remain in your HSA
account for you to use on future health care expenses.
Premium PPO Cost HSA PPO Cost Premium Savings to
Switch
Employee Only $2,910 Employee Only $672 $2,238
Employee + Spouse $7,235 Employee + Spouse $1,798 $5,437
Employee + Child $6,425 Employee + Child $1,593 $4,832
Family $12,053 Family $2,996 $9,057
Grow Your HSA
Premium
Savings Company HSA Total Savings in Total Savings in Total Savings in
(use as your Contribuion 1 Year 2 Years* 3 Years*
personal HSA
contribuion)
$2,238 $500 $2,738 $5,476 $8,214
$5,437 $1,000 $6,437 $12,874 $19,311
$4,832 $1,000 $5,832 $11,664 $17,496
$9,057 $1,000 $6,750 $13,500 $20,250
(2016 IRS Max)
* Assumes you save the same amount year over year without withdrawing funds from previous year, also
assumes Company contribuion remains the same each year; if you are age 55 or older you can contribute
an addiional $1,000 on top of these amounts as a catch-up contribuion.
16
Enrollment
Reevaluate Your Utilization
If you switched from the Premium PPO to one of our other plans opions for
2016 you’ll immediately save in contribuions. If you enrolled in the HSA PPO
you could put that money you’re currently spending in higher contribuions
toward tax free savings into your Health Savings Account. So, if you have a
good year of claims, you won’t lose the money as it will remain in your HSA
account for you to use on future health care expenses.
Premium PPO Cost HSA PPO Cost Premium Savings to
Switch
Employee Only $2,910 Employee Only $672 $2,238
Employee + Spouse $7,235 Employee + Spouse $1,798 $5,437
Employee + Child $6,425 Employee + Child $1,593 $4,832
Family $12,053 Family $2,996 $9,057
Grow Your HSA
Premium
Savings Company HSA Total Savings in Total Savings in Total Savings in
(use as your Contribuion 1 Year 2 Years* 3 Years*
personal HSA
contribuion)
$2,238 $500 $2,738 $5,476 $8,214
$5,437 $1,000 $6,437 $12,874 $19,311
$4,832 $1,000 $5,832 $11,664 $17,496
$9,057 $1,000 $6,750 $13,500 $20,250
(2016 IRS Max)
* Assumes you save the same amount year over year without withdrawing funds from previous year, also
assumes Company contribuion remains the same each year; if you are age 55 or older you can contribute
an addiional $1,000 on top of these amounts as a catch-up contribuion.
16
