2010-11 EHA High Deductible Wellbeing Arrangement Wellbeing Bank accounts Online class.


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2010-11 EHA High Deductible Wellbeing Arrangement Wellbeing Bank accounts Online class Presentations Kurt Genrich – EHA Arrangement Advocate Kent Trelford-Thompson – BCBSNE Account Official Motivation Characterize High Deductible Wellbeing Arranges Double Decision Arrangement Alternatives $2,850 High Deductible Wellbeing Arrangement
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2010-11 EHA High Deductible Health Plan Health Savings Accounts Webinar

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INTRODUCTIONS Kurt Genrich – EHA Plan Advocate Kent Trelford-Thompson – BCBSNE Account Executive

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AGENDA Define High Deductible Health Plans Dual Choice Plan Options $2,850 High Deductible Health Plan Funding Arrangements (samples) Health Savings Accounts Questions

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High Deductible Health Plans What they are: PPO and Rx arrangement that meets particular Federal prerequisites Consumer Driven Health Insurance Advantages 1. Lower Premiums 2. Scope for genuine sickness or damage 3. Income and Investments 4. 100% scope 5. Set up to 100% of your deductible in a HSA ($2,850 Single/$5,700 Family)

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High Deductible Health Plans Disadvantages Large Upfront Deductible-Aggregate for Family scope (Pay add up to family deductible before advantages are paid) No Co-pays for Office Visits, Rx scope Regular PPO deductibles don\'t exchange to HDHP-should think about January 1 for execution Have Limited Section 125/Flex arrangement with HDHP

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EHA Employee Choice Plans As of September 1, 2010 EHA will offer four worker double alternative arrangements. *If offered, subgroup would not fit the bill for 5% Discount *Must have no less than 10 qualified ees to offer Dual Choice *Must offer Dual Choice Option for no less than 3 years

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$2,850 High Deductible Health Plan Only offered as an alternative (not remain solitary) $2,850 Single Deductible $5,700 Family Deductible (Must meet this deductible before any cases are paid for any individual from your family) 100% Coverage after deductible Lifetime Maximum-$5,000,000 Office Visits, Inpatient Hospital, Outpatient Hospital, Emergency Services are liable to Deductible and coinsurance Routine Care: $500/year, not subject to Ded and coins.

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$2,850 High Deductible Health Plan Prescription Drugs-Generic, Formulary Brand, Non-model Brand, Specialty Drugs, and Diabetic/Ostomy supplies will be secured subject to Deductible and coinsurance. Mail Order medications are accessible for 180 day supply subject to deductible and coinsurance Mental Health and Substance Abuse scope is liable to deductible and coinsurance

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How Premium and Offering may work Apple School-100 representatives Total Monthly Premium if all were on $350 alternative $83,323.08 75 workers keep focused choice Monthly Costs-$62,539.48 $350 choice: $2,350 Single/$4,700 Family Out of Pocket Max Out of Pocket Max, Rx: $2,500 single/$5,000 Family 25 workers pick the $2,850 choice Monthly Costs-$17,063.53 $2,850 HDHP: $2,850 Single/$5,700 Family (incorporates Rx) Total Monthly Premium-$79,603.01 Difference in Cost: $3,720/Monthly or $44,640/Annually *Based on current EHA enlistment by levels

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Difference in premium? What to do with it. On the off chance that you utilize the $350 choice as you\'re base, individuals who pick the HDHP may get the distinction in premium back to them. Single-$1,200/year Ee/SP-$2,496/year Ee/Ch-$2,196/year Family-$3,360/year This sum, could then be placed in a Health Savings Account, or whatever other arranged apparatus.

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Health Savings Accounts What they are: A HSA is a duty excluded part claimed record built up to pay for qualified restorative costs of a man secured under a HDHP. Reserves that are not utilized as a part of a given year can be continued from year to year and procure expense free enthusiasm over the arrangement\'s life

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Health Savings Accounts Eligibility-secured under a HDHP w/out some other non-HDHP scope (no double scope, even spouse’s 125 arrangement) Annual HSA commitment limits: $3,050 Single, $6,150 Family *Individuals between 55 & 64 can contribute an extra $1,000 over the most extreme. On the off chance that you are more than 65 and/or are on medicare, you no more can add to the HSA.

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Health Savings Accounts Qualified Medical costs: sans tax if utilized for qualified therapeutic costs as characterized by IRS Code Section 213(d). The rundown incorporates Health arrangement Ded & Coins., medicinal costs not secured by wellbeing arrangement, Rx and OTC medications, qualified long haul care scope, COBRA premium and Medicare parts A & B premium

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Health Savings Accounts Who chooses if the cost is a qualified therapeutic cost? The Member chooses whether the cash being spent is for a “qualified therapeutic expense”. On the off chance that inspected, part must have receipts/records to protect consumptions amid a review. (Part will have a Reimbursement Card, VISA) How a lot of my HSA would I be able to utilize? You can utilize all the cash right now in the record at one time if necessary. You can\'t utilize cash that has not been contributed yet. (Segment 125 arrangement) Do HSA stores move over from year to year? Yes, the cash not utilized will keep on being accessible to you in future years. It will likewise gain enthusiasm, contingent upon how contributed. Consider the possibility that the HSA account proprietor bites the dust, what is the fate of his record. The record will be exchanged to a named recipient chose by the part. On the off chance that utilized for an option that is other than therapeutic costs, it will be burdened.

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Health Savings Accounts Who gives these sorts of records? The larger part of banks and numerous other money related organizations offer HSAs to their individuals. Schools ought to investigate offering just 1 reserve funds alternative to individuals (finance reasoning, and so forth). Check card is generally issued to individuals for installment of administrations

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Other Negotiated Options The distinction in premium will be an arranged choice for the forthcoming arrangement year. Arranging gatherings will have the capacity to settle on choices on what to do with the cash.

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Contact Information Kurt Genrich – EHA Plan Advocate Kurt@ehaplan.org (402) 217-2042-Cell 1-866-465-1342 without toll Kent Trelford-Thompson Account Executive BCBSNE Kent.trelford-thompson@bcbsne.com (402) 458-4810

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Questions? Much obliged to you! .:tslides

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