Page 6 - 2015 OE Sample Guidebook
P. 6
YOUR MEDICAL PLAN CHOICES
In order to minimize the impact of
rising costs for our team members, Option 1: Health Reimbursement Account (HRA) Plan
we continue to examine our plans, The Health Reimbursement Account (HRA) Plan will replace the current Value
carriers and beneit strategies. We Plan option. The HRA Plan has a lower annual deductible than the other new
health plan option, the HSA plan, but requires a higher rate of employee
look for opportunities to manage contribution.
these rising costs without simply [Client] will fund the HRA based on your completion of speciic wellness
passing on these costs to team activities. The funds will be applied towards eligible medical services subject to
members. This year we will have the deductible and coinsurance. If you spend all the money in your account,
two new medical plan options from then you pay the remaining deductible before the plan pays most beneits.
which to choose. These will replace Once you’ve met the deductible, the plan will pay beneits based on a
coinsurance.
the current Value Plan and Medical
Reimbursement Account Plan.
Option 2: Health Savings Account (HSA) Plan
Both plans are administered by Blue The HSA Plan has a lower annual employee contribution than the HRA Plan
Cross Blue Shield of Illinois and but the deductible is higher. There will be no copays. You pay for all services
we will continue to use the same including prescriptions until you reach the annual out-of-pocket maximum.
Preferred Provider Organization Health Savings Accounts (HSAs) will be available for all employees enrolled in
(PPO) network of doctors and the HSA Plan. An HSA is a personal healthcare bank account that you can use
medical facilities. The plans to pay out-of-pocket medical expenses with pre-tax dollars. You will own and
administer your account, and there are no “use it or lose it” restrictions like
encourage you to use in-network with Flexible Spending Accounts.
providers for you to have the least [Client] will fund the HSA based on your completion of speciic wellness
amount of out-of-pocket expenses. activities. [Client] will deposit funds to your HSA for you to use to pay for
qualiied medical expenses. You can also set aside dollars on a pre-tax basis
To help you better understand the through payroll deduction to use to pay for your medical expenses, tax free.
plans offered and select which one You can use the funds in your Health Savings Account to offset out-of-pocket
is best for you and your family, we deductible and coinsurance expenses.
have included Health Reimbursement You are eligible to open a Health Savings Account if:
Accounts and Health Savings You are enrolled in an HSA Plan You are not eligible to be claimed
Accounts at a Glance, Medical Plan (Qualiied High Deductible Health as a dependent on someone else’s
Summaries, and Out-of-Pocket Cost Plan) tax return
Examples in this guide. You are not covered by your You are not enrolled in Medicare,
spouses health plan or Flexible TRICARE, or TRICARE for Life
Spending Account
You have not received Veterans
Administration Beneits
6
In order to minimize the impact of
rising costs for our team members, Option 1: Health Reimbursement Account (HRA) Plan
we continue to examine our plans, The Health Reimbursement Account (HRA) Plan will replace the current Value
carriers and beneit strategies. We Plan option. The HRA Plan has a lower annual deductible than the other new
health plan option, the HSA plan, but requires a higher rate of employee
look for opportunities to manage contribution.
these rising costs without simply [Client] will fund the HRA based on your completion of speciic wellness
passing on these costs to team activities. The funds will be applied towards eligible medical services subject to
members. This year we will have the deductible and coinsurance. If you spend all the money in your account,
two new medical plan options from then you pay the remaining deductible before the plan pays most beneits.
which to choose. These will replace Once you’ve met the deductible, the plan will pay beneits based on a
coinsurance.
the current Value Plan and Medical
Reimbursement Account Plan.
Option 2: Health Savings Account (HSA) Plan
Both plans are administered by Blue The HSA Plan has a lower annual employee contribution than the HRA Plan
Cross Blue Shield of Illinois and but the deductible is higher. There will be no copays. You pay for all services
we will continue to use the same including prescriptions until you reach the annual out-of-pocket maximum.
Preferred Provider Organization Health Savings Accounts (HSAs) will be available for all employees enrolled in
(PPO) network of doctors and the HSA Plan. An HSA is a personal healthcare bank account that you can use
medical facilities. The plans to pay out-of-pocket medical expenses with pre-tax dollars. You will own and
administer your account, and there are no “use it or lose it” restrictions like
encourage you to use in-network with Flexible Spending Accounts.
providers for you to have the least [Client] will fund the HSA based on your completion of speciic wellness
amount of out-of-pocket expenses. activities. [Client] will deposit funds to your HSA for you to use to pay for
qualiied medical expenses. You can also set aside dollars on a pre-tax basis
To help you better understand the through payroll deduction to use to pay for your medical expenses, tax free.
plans offered and select which one You can use the funds in your Health Savings Account to offset out-of-pocket
is best for you and your family, we deductible and coinsurance expenses.
have included Health Reimbursement You are eligible to open a Health Savings Account if:
Accounts and Health Savings You are enrolled in an HSA Plan You are not eligible to be claimed
Accounts at a Glance, Medical Plan (Qualiied High Deductible Health as a dependent on someone else’s
Summaries, and Out-of-Pocket Cost Plan) tax return
Examples in this guide. You are not covered by your You are not enrolled in Medicare,
spouses health plan or Flexible TRICARE, or TRICARE for Life
Spending Account
You have not received Veterans
Administration Beneits
6
