Page 10 - 2019 Benefits Enrollment
P. 10
CDHP AND HEALTH SAVINGS ACCOUNT (HSA)
What is a Consumer-Driven Health Plan (CDHP)?
Here are the Basics of How CDHPs Work
Except for preventive services and certain preventive prescriptions, you
pay for 100% of your medical and prescription drug services until you
meet the plan’s annual deductible. You have one deductible to satisfy for
both medical and prescription drug services.
After that, you share the medical and prescription costs with the insurance
carrier until you reach your out-of-pocket maximum amount for the year.
As a reminder, you pay the network discounted rate when services are
rendered by in-network providers.
Once you reach your out-of-pocket maximum amount, the insurance plan
will pay all of your costs; you pay nothing more for the remainder of the
plan year.
Why Do We Offer CDHPs?
CDHPs encourage individuals to become more active in making
healthcare decisions. The actual cost of services under a CDHP has more
impact on you than under traditional plans. Conversely, under traditional
plans, you often just pay a lat dollar copay and may not realize the actual
costs of your doctor’s visits and prescriptions. A CDHP puts you in
the driver seat and in better control of how much you spend on your
healthcare.
10 2019 Benefits Enrollment
What is a Consumer-Driven Health Plan (CDHP)?
Here are the Basics of How CDHPs Work
Except for preventive services and certain preventive prescriptions, you
pay for 100% of your medical and prescription drug services until you
meet the plan’s annual deductible. You have one deductible to satisfy for
both medical and prescription drug services.
After that, you share the medical and prescription costs with the insurance
carrier until you reach your out-of-pocket maximum amount for the year.
As a reminder, you pay the network discounted rate when services are
rendered by in-network providers.
Once you reach your out-of-pocket maximum amount, the insurance plan
will pay all of your costs; you pay nothing more for the remainder of the
plan year.
Why Do We Offer CDHPs?
CDHPs encourage individuals to become more active in making
healthcare decisions. The actual cost of services under a CDHP has more
impact on you than under traditional plans. Conversely, under traditional
plans, you often just pay a lat dollar copay and may not realize the actual
costs of your doctor’s visits and prescriptions. A CDHP puts you in
the driver seat and in better control of how much you spend on your
healthcare.
10 2019 Benefits Enrollment
