ConnectiCare HSA Solution Presentation

20130503

The health of your business is at the

heart of everything we do

HDHP/HSA Program Overview

• Health insurance costs are rising • HDHP/HSA programs may be part of the solution

by:– Offering potentially lower health premiums – Encouraging healthier lifestyles– Promoting health consumerism

Answers to Your Questions

• What is an HDHP/HSA program?• Why are HDHP/HSA programs important? • How does an HDHP/HSA program work?• How does an HSA work?• What are the employee benefits?• What are the employer benefits?

20130503

What is an HDHP/HSA program?

A New Kind of Healthcare Program

• HDHP/HSA programs were created as part of the Medicare Modernization Act of 2003

• Part of the Consumer-Directed Healthcare (CDH) trend

• CDH programs share some of the cost and responsibility for healthcare expenses with the employee

20130503

Why are HDHP/HSA programs important?

Health Premiums Keep Rising

Average Annual Health Insurance Premiums 2008 to 2012

Source: Kaiser/HRET Survey of Employer-Sponsored Health Benefits, 2012. Chart compiled by Finity Communications.

HDHPs Can Lower Costs

HDHP vs. Non-HDHP Health Insurance Premiums

Estimated average annual premium of $4,713 for HDHP individual coverage and $13,446 for HDHP family coverage vs. $5,777 for non-HDHP individual coverage and $16,128 for non-HDHP family coverage.

Source: Kaiser/HRET Survey of Employer-Sponsored Health Benefits, 2012. Chart compiled by Finity Communications.

20130503

How does an HDHP/HSA work?

Two Components Working Together

• High Deductible Health Plan (HDHP)– Health plan offered by a health insurance company or

an employer

• Health Savings Account (HSA) – An individual custodial account

High Deductible Health Plan

• An HDHP is a health plan designed with a higher deductible than many traditional health plans

• Employees pay for most medical expenses before the deductible is reached

• In exchange for higher deductibles, HDHPs often have lower premiums

• Any premium savings can be put into an HSA to pay for healthcare expenses

• Money in an HSA rolls over each year

HDHPDeductible Requirements

• Single deductible that applies to all covered medical expenses

• Minimum annual deductible:

• Maximum annual out-of-pocket:

Coverage Type 2013 2014

Self-Only $1,250 $1,250

Family $2,500 $2,500

Coverage Type 2013 2014

Self-Only $6,250 $6,350

Family $12,500 $12,700

20130503

How does the HSA work?

Health Savings Account

• Provided by an HSA custodian • Owned by employees• Not part of a qualified benefit plan

(i.e., ERISA does not generally apply)

Health Savings Account

• Tax-advantaged account • Used to pay for medical expenses before HDHP

benefits apply• Employees may be able to use HSA money for

expenses not covered under a traditional plan• Employees should check their HDHP to see what

counts toward the deductible

HSA Contribution Limits

• Maximum contribution limits are:

• Limits subject to cost-of-living adjustments

• Employees age 55 and older can make catch-up contributions

2013 2014

Individual $3,250 $3,300

Family $6,450 $6,550

Employer HSA Contributions

• Matching contributions motivate employees to save in their HSAs

• Employees with no savings risk being financially vulnerable

• Contributions show our commitment to the HDHP/HSA program

Employer Contribution Requirements

• Contributions can vary each year• Contributions don’t have to be equal, but they

must be “comparable”• Larger contributions can be made for lower-

compensated employees• Combined contributions must not exceed

contribution limits• Vesting requirements are simple

Our HSA Custodian

• A leading financial institution• Interest paid on deposit account balances• Deposit accounts are FDIC-insured• Provides all recordkeeping • Provides all administration

HSA Services for Employees

• HSA welcome kit• HSA debit card• Access to online tools and education• Monthly HSA statements• 24/7 account access online or by telephone

20130503

What are the benefits of an HDHP/HSA for employees?

HDHP/HSAs Offer Choice, Flexibility and Control

• Potentially lower health insurance premiums • Tax-advantaged savings in HSAs• Funded with direct deposits, payroll

deduction, or an IRA rollover• Promote increased health consumerism• Reward healthier lifestyles

HSAs Pay for Medical Expenses Before HDHP Benefits Apply

• Employees control their HSAs• No “use it or lose it” provisions• Funds roll over year after year• HSAs are portable

HSAs Provide Significant Tax Advantages

• Tax-deductible• Earnings accumulate without tax• Funds used for qualified medical expenses are

tax-free• State taxes may vary• Employers not responsible for monitoring HSA

spending

20130503

What are the benefits to employers?

More Sustainable Healthcare

• Rising health insurance costs may create an unsustainable healthcare system

• HDHPs share some of the responsibility with the employee

• HSAs may motivate health consumerism• Sustainability may be achievable by motivating

employees to become part of the solution

Healthy Lifestyles and Awareness

• Healthy lifestyles can be rewarded with tangible financial benefits

• Conscious health consumerism • May help health experience ratings• HSAs may help empower employees

Higher Corporate Profitability

• Higher deductibles may lower health insurance premiums

• Less spent on health insurance means higher company profitability

• Higher profitability means a more secure future for employees

20130503

HDHP/HSA programs can help create a healthy future

ConnectiCare HSA Solution Presentation

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