Page 19 - Precision Health Plans - Brochure 2024

Financial Series Value Proposition Precision Health Plans: Financial Series

Qualified High Deductible Health Plans (qHDHP) are designed to comply INNOVATIVE DESIGNS
  with federal guidelines in order to provide member eligibility to contribute The Q 3500 EZ and Q 5000 EZ plans are designed with a single Deductible and Out of

to a tax-favored Health Savings Account (HSA). Pocket Maximum, regardless of dependent status, much like our HRA EZ plans. The

advantage of this plan design is its simplicity and cost effectiveness for those employees
covering themselves and dependents. The Q 2000 and Q 6650 plan options provide

The tax advantages of a qHDHP combined with a Health Savings Account more conventional qHDHP cost sharing, as outlined in the following pages.
  (HSA) provide for one of the best health plan strategies available.
WHAT IS A HEALTH SAVINGS ACCOUNT (HSA)*?

An HSA is a tax-favored savings account that can be funded with tax-deductible
dollars like an IRA. However, in this case withdrawals for qualified medical expenses
The Financial Series provides five options with various cost-sharing are also tax-free. To be eligible to fund an HSA, you must be covered by a certain type

methodologies to suit a variety of needs. Keep in mind that only certain of plan called a qualified high deductible health plan (qHDHP). The Financial Series
preventive care is covered prior to the deductible. Regulations require that Plans are all qHDHPs. When combining a qHDHP with an HSA, you save on health
  most medical expenses are subject to the deductible before benefits begin. plan costs, allowing you to make a significant tax-deductible deposit (subject to IRS

Nonetheless, the comprehensive strategy of an HSA with a qHDHP can limits*) into a tax-favored account. The money stays in the account for future health
provide long-term advantages to employers and their employees. expenses, or you can keep it for retirement, rather than giving it to your health plan.

When you have medical expenses, including cost sharing on your medical plan, you
may use the balance in your HSA account to pay those expenses with tax-free dollars.

  Your choice of strong PPO network options or direct negotiation through MONEY SAVINGS ADVANTAGES
Reference Based Pricing.
A qHDHP is usually less expensive than other health plan options. That savings can
then be used to help fund your HSA with a tax-deductible contribution. Depending

on the amount, you may also be able to add additional tax-deductible funds up to
  Maximize employee satisfaction and employer budgeting strategies by the maximum contribution limit in your account. This savings then grows with tax-
offering up to four different Precision plan designs to your employees.
favored earnings in the years when you don’t have significant medical expenses. The

accumulations in this account can be substantial over the long haul, making this
strategy better year after year.
Our exclusive Self-Funded Exchange Marketplace with electronic
  enrollment and Group Risk Assessment provides efficiency and educated WHERE DO I GET AN HSA?

direction for your benefit strategies. An HSA or health savings account is simply a type of bank account. Your local bank
can probably help you establish one, or your broker may suggest an option.

*Visit www.irs.gov for additional details and annual contribution limits.

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