Health Savings Account Qualified Plan

1
Health Savings Account Qualified Plan
HSA
What is it and how does it work?
2
What is a HSA?
A Health Savings Account Qualified Plan allows
you to set aside your pre-tax income to pay for
health related expenses .
3
HSA Features and Plan Design
You have the ability to set aside 100 of the
Plan Deductible into your HSA.

Plan Design Deductible In-Network
Out-of-Network Individual
1,500 1,500 Family 3,000 3,000
4
HSA Features and Plan Design
You have the ability to set aside 100 of the
Plan Deductible into your HSA.
You have the ability to set aside 100 of the
Plan Deductible into your HSA.
Plan Design Deductible In-Network Out-of-Network
Individual 1,500 1,500 Family 3,000
3,000
Individuals can set aside 1,500 and 3,000 for a
family in their HSA!
Coinsurance 20 after deductible 30 after
deductible
Out of Pocket Max Individual 2,500 5
,000 Family 5,000 10,000 After
deductible and copays
5
What are the benefits?

• Tax Advantages Contributions are pre-tax.
• Make Money Your account balance earns
  interest!
• HSAs are not use or lose your account
  balance can roll from year to year.
• Portability If you leave your current job for
  any reason, your HSA can be used through you new
  employers health plan.

6
Example
Are are in individual who has set aside the
maximum 1,500 in your HSA.
You have a 5,000 hospital charge that includes a
surgical operation and a three day stay in an
in-network hospital.
You are responsible for
5,000 Surgery and Hospital stay
5,000 Charge - 1,500 Pre-tax
HSA 3,500 Balance x 20
Coinsurance 700 Out of Pocket
Total Out of Pocket 2,200
7
How do I make informed consumer decisions?

• Your employer wants you to have the tools
  available to make smart, consumer-oriented health
  care decisions. One such tool is HSB
  HealthWatch, available as a link through the HSB
  website. As part of your plan, HSB HealthWatch
  gives you
• an assessment and tracking of your health status
• personalized stage-based information
• medical self-care information
• daily health news

8
FAQ
Q How can I make my HSA last? A When
buying a brand-name prescription, ask if a
generic medication is available there is a good
chance that a less expensive generic alternative
is available. Generics contain the same active
ingredients as brand name counterparts and are
subject to the same strict FDA quality
standards. Also, ask yourself if a trip to the
doctors office is necessary. Use the tools
available like HSB HealthWatch, E-Doc or WebMD to
self-diagnose health problems you may be
experiencing. There are many OTC prescription
strength medications available that are less
expensive and more easily accessible than a
doctors prescription.
9
FAQ (Continued)
Q If I dont use my HSA this year, can it roll
over to the following plan year?

A Yes, its your money! Unlike FSA dollars,
any unused balance in your HSA will roll to the
next plan year. Q If I am no longer with my
employer, is any unused balance in my HSA my
money to keep?
A
Yes. If you choose to leave, are terminated, or
retire, you can take your HSA with you. Complete
portability is a great benefit to a Health
Savings Account.