©2007 Regence BlueCross BlueShield of Utah Regence HSA Healthplan A new kind of health care...
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Transcript of ©2007 Regence BlueCross BlueShield of Utah Regence HSA Healthplan A new kind of health care...
©2007 Regence BlueCross BlueShield of Utah
Regence HSA Healthplan
A new kind of health care coverage
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2©2007 Regence BlueCross BlueShield of Utah
Regence HSA Healthplan
What is an HSA? How does it work?
The Power of HSA
The Power of Regence
Banking Partners HSA Bank Wells Fargo
3©2007 Regence BlueCross BlueShield of Utah
What is an HSA?How does it
work?
4©2007 Regence BlueCross BlueShield of Utah
Health Savings Account: How it Works
Enroll in an HSA-qualified HSA-qualified health planhealth plan
Open a Health Health Savings Savings AccountAccount
The health The health plan and HSA plan and HSA work togetherwork together
coverage under the health plan kicks in once the deductible is satisfied
the account belongs to the employee
contributions are tax-deductible
start paying for qualified medical expenses from the HSA right away
save and invest for future health care expenses or retirement
5©2007 Regence BlueCross BlueShield of Utah
More About the Health Plan
Employees must be covered by an HSA-qualified health plan in order to open and contribute to a Health Savings Account
Premiums are generally more affordable than traditional health plans
You control your overall health care costs by determining how much to fund employees’ health savings accounts
IRS Rules for IRS Rules for HSA-Qualified Health PlansHSA-Qualified Health Plans
Minimum deductible amounts
Maximum out-of-pocket limits
All medical and prescription benefits, except for preventive care, must be subject to the deductible
6©2007 Regence BlueCross BlueShield of Utah
HSA Contributions Pre-tax contributions can be made by both employees and employers Annual contribution maximums are determined by the IRS
Account Ownership & Use The employee owns the funds permanently, they roll-over each year
and follow the employee wherever he/she goes HSA funds can be invested for future medical expenses or retirement HSA funds can be used tax-free for qualified medical expenses
More about the HSA
HSA-Qualified Medical ExpensesHSA-Qualified Medical Expenses
Deductible Coinsurance
Alternative care Dental care Vision care
Out-of-pocket expenses for services covered by the health plan:
Lasik eye surgery OTC medications And much more!
Out-of-pocket expenses for services beyond the health plan, such as:
7©2007 Regence BlueCross BlueShield of Utah
Additional IRS Guidelines
Eligibility Employees must meet the
following IRS guidelines in order to open and contribute to an HSA
Must be enrolled in an HSA-qualified health plan
Must not have coverage under another health plan, such as a spouse’s plan
Cannot be enrolled in Medicare
Cannot be claimed as a dependent on someone else’s tax return
Comparability & Nondiscrimination
Comparability, which requires that employers provide comparable contributions (same dollar amount or same % of deductible) to employees in the same class, applies only to employer groups which do not have a section 125 (cafeteria) plan.
Nondiscrimination, which prohibits employers from favoring highly compensated and/or key employees, applies only to employer groups which have a section 125 (cafeteria) plan.
8©2007 Regence BlueCross BlueShield of Utah
The Power of HSA
9©2007 Regence BlueCross BlueShield of Utah
HSA: A Different Kind of Health Plan
ContributionControl
You choose how much to contribute, giving you more control over your annual health care costs
Your HSA contributions become a growing asset for your employees, as they roll over each year and offer a tax-free investment vehicle
Employees have a choice whether to spend their HSA funds on qualified medical expenses today, or save for future medical expenses or retirement
Employees have ultimate ownership over their health care dollars Employees own the funds Employees own the decisions
PlanPersonalizatio
n
Roll Over
OWNERSHIP
10©2007 Regence BlueCross BlueShield of Utah
Tax Advantages
HSA is the only HSA is the only investment opportunity investment opportunity that offers this unique that offers this unique
triple tax savingstriple tax savings
Employee Employee HSA contributions
are tax-deductible for the employee
Interest and investment gains are not taxable
HSA distributions for qualified medical expenses are tax-free
Employer Employer HSA contributions
are tax-deductible for the employer
Employee contributions made under a section 125 cafeteria plan do not count as wages and therefore result in lower payroll taxes
11©2007 Regence BlueCross BlueShield of Utah
The Power of Regence
12©2007 Regence BlueCross BlueShield of Utah
Regence’s Full Service Solution
Robust Robust Benefit Benefit
PackagePackage
Employee Employee NavigationaNavigationa
l Toolsl Tools
AdministrativeAdministrativeSupportSupport
Unlimited, upfront preventive care and built-in wellness programs
Coverage against the unexpected
Support at each step of the way
Multiple lifelines for personalized
support
Guided tours from the basics
to plan customization
and total ownership
13©2007 Regence BlueCross BlueShield of Utah
Robust Benefit Package
Unlimited preventive care coverage before the deductible gives your employees access to the care they are most likely to use
Built-in wellness programs help your employees lead healthier lives, including:
24-hour access to CareEnhance® Nurseline Regence Health Coach for 1:1 support Special Beginnings maternity program
WellnessWellness
PreventivePreventive
Financial Financial ProtectionProtection
Catastrophic coverage protects your employees against the unexpected
14©2007 Regence BlueCross BlueShield of Utah
Benefit SnapshotBenefit OptionsBenefit Options
Provider NetworksProvider Networks
Lifetime MaximumLifetime Maximum
Deductible OptionsDeductible Options
OOP MaximumOOP Maximum
CoinsuranceCoinsurance
Office VisitsOffice Visits
Preventive CarePreventive Care
PrescriptionsPrescriptions
In-NetworkIn-NetworkTraditionalValueCare
$2 million
$1,500 single / $3,000 family$2,500 single / $5,000 family*$3,500 single / $7,000 family*$5,000 single / $10,000 family
*$3,000 embedded single deductible option available
80%
Deductible & coinsurance
Deductible waivedNo annual limits
80% coinsurance
80% (Subject to deductible)
Out-of-NetworkOut-of-Network
Non-Contracting
60%
Deductible & coinsurance
Deductible waivedNo annual limits
60% coinsurance
$3,000 single / $6,000 family$5,000 single / $10,000 family$7,000 single / $14,000 family
$10,000 single / $20,000 family
$5,000 single / $10,000 family $10,000 single / $20,000 family
15©2007 Regence BlueCross BlueShield of Utah
Your GuideYour Guide
to HSAto HSA
Welcome.
Employee Navigational Tools
Scenario-based Scenario-based education tool & education tool & calculator for plan calculator for plan selection during selection during open enrollmentopen enrollment
HSA Flash Tutorial HSA-trained customer HSA-trained customer
service advocatesservice advocates 24-hour nurseline24-hour nurseline Personal health Personal health
coachescoaches
Member Welcome Kit Guided tour Guided tour
takes employees takes employees through the set-through the set-up process and up process and HSA resourcesHSA resources
A community of A community of Regence membersRegence members
Ask-the-HSA ExpertAsk-the-HSA Expert Podcasts, webinars Podcasts, webinars
and helpful articlesand helpful articles
Personalized 1:1 Support
myRegence.com
16©2007 Regence BlueCross BlueShield of Utah
Administrative Support
Enrollment
Get Up & Running Fully supportive
compliance testing
Employee set-up instruction & support
Welcome kit
Education
Inform Employees Educational
materials Interactive
decision-making tools & resources
Supporting communication
Ongoing Support
The Day-to-Day Personalized
employee support, navigation & online tools
Regence provides full support at each step of the way to meet the needs of you and your employees
17©2007 Regence BlueCross BlueShield of Utah
Banking Solution:HSA Bank
18©2007 Regence BlueCross BlueShield of Utah
HSA Bank
Banking Experience A national leader in health
savings accounts with a high level of experience
Provides both online and paper enrollment
Website allows members to check account balance and transfer funds; integrates with MS Money or Quicken
Debit card, checks, and manual reimbursement available
Investment Options Employees can transfer
funds easily between their health savings account and the brokerage
Access to stocks, bonds, and over 11,000 mutual funds
Employees can make trades online, over the phone, or through a broker
19©2007 Regence BlueCross BlueShield of Utah
HSA Bank Rate Chart
Service Description
Rate orCharge
Monthly Fee$3.25 (waived if balance is over
$3,000)
Set-up Fee No charge
Debit Cards No charge
Investments See terms and conditions
20©2007 Regence BlueCross BlueShield of Utah
Banking Solution:Wells Fargo
21©2007 Regence BlueCross BlueShield of Utah
Wells Fargo Bank
Banking Experience Wells Fargo is one of the
largest financial services institutions in the nation
Paper enrollment only Website allows members to
view account balance and download forms
Funds are accessed through debit cards or manual reimbursement requests
Investment Options 6 different investment
options are available Options range from more
conservative money market funds to a 100% equity option
22©2007 Regence BlueCross BlueShield of Utah
Wells Fargo Rate Chart
Service Description
Rate orCharge
Monthly Fee$3.75 (waived if balance is over
$2,500)
Set-up Fee No charge
Debit Cards No charge
Investments No charge
23©2007 Regence BlueCross BlueShield of Utah
Regence HSA Healthplan
Regence offers a full-service HSA solution, with: A robust benefit package that combines comprehensive
preventive care and wellness programs with solid coverage
A full suite of member tools and personalized support to facilitate navigation at every step of the way
Full support to employers through open enrollment and beyond
One-stop service for both health plan and financial services