medical insurance regence blue cross/blue shield of utah, 2 options – option 1 $500 deductible...

Medical Insurance • Regence Blue Cross/Blue Shield of Utah, 2 Options

– Option 1• $500 DEDUCTIBLE plan/3 individuals• Individual Out of pocket max $4,000• Family Out of pocket max $8,000• NO Annual Maximum

– Option 2• HDHP/HSA Combination• $1,500 DEDUCTIBLE single coverage

– Out of pocket max $4,000 (Inc. DED)• $3,000 DEDUCTIBLE 2-party or family coverage

– Out of pocket max $8,000 (Inc. DED)• NO Annual Maximum

2013 Plan Changes$500 Deductible

ITEM 2012 2013Annual Out of Pocket Maximum

Individual/Family$1,500/$4,500 $4,000/$8,000

Emergency Room Copay $100 $250

Prescriptions (Rx)

Generic

Formulary

Non-Formulary

$7.00

20%

35%

$15.00

25%

45%

EMPLOYEE PREMIUM CONTRIBUTION CHANGES

Individual

2-Party

Family

$30.90

$55.15

$73.00

$33.00

$59.55

$79.00

Examples of $500 vs. HDHPExamples: $500 Coverage HDHP Coverage

#1 - Month

Two Dr. Visits

Dr. visit = $130 x 2 = $260

$125.70 difference!!!

$20 copay (after tax $)

$20 copay (after tax $)

$95.70 premium difference

($135.70) Total spent for the month for healthcare

$260 Dr. Visit($250)HSA County contribution

$10.00 Total Spending for the month (No Tax paid)!

#2 - Month

1 Dr. Visit = $130

$300 Rx (Formulary)

$10.70 difference!!!

$20 copay (after tax $)

$75 for Rx (after tax $)$95.70 premium difference

($190.70) Total spent for the month for healthcare

$0 applied to deductible

$130* Dr. Visit

$300* for Rx($250)HSA County contribution

($180.00) Total

*450 applied to deductible!

#3 - Annual

$5,000 Broken Arm

$600 5 Office Visits

$4,400 Surgery

$10,000 Annual Expense

$3,428.40 difference!!!

Broken Arm:

$500 Deductible

$1,200 ($250 ER copay+20%)

Office Visits: $100 ($20 copay x 5)

Surgery: $880 (20%)

$1,148.40 premium difference

($4,828.40) Total

$3,000* deductible

$1,400 co. (20% of $7,000)

$4,400

($3,000) HSA UC Cont.

($1,400.00) Total

*Family Deductible is met & $ applied toward OOP Max.

Part 1Health Savings

Account(HSA)

Part 2High Deductible Health

Plan(HDHP)

HSAConcept

Incentive to SAVE $ - You & your employer contribute pre-tax dollars

Incentive is to focus on PREVENTATIVE CARE and have coverage for major medical expenses.

VS.

TraditionalHealthcare Traditional

Health Plan

Flexible Spending Account(FSA)

YOU make all contributions & forfeit at the end of the year. Incentive to USE $ (or you will lose it)

Incentive to USE $ and Insurance

YourAccount

$ rolls overyear to year

Why have a consumer-driven health plan?

Health Savings Account (HSA) – What is it?• Uintah County contributes money on a monthly basis

– MAKING IT A $0 DEDUCTIBLE PLAN!!!• A bank account in YOUR name• You can contribute PRE-TAX dollars through payroll• Receive a Debit Card (use as a credit card, no fee)• Checks (50 for $7.95)• $2.25 monthly admin fee (waived after you have $3,000 in

account)• Track spending online, keep records, tax forms• Use for health, dental and vision expenses or supplemental

income upon retirement• Visit www.hsabank.com for more information

www.myregence.com

www.myregence.com

www.myregence.com

www.myregence.com

Status Changes

• Marriage, Divorce, dependent marriage, etc.• Change dependents AND beneficiaries • 30 Days from EFFECTIVE DATE• Materials & Forms• Open enrollment ends

December 14, 2012

Enrollment• All employees MUST complete and submit new forms by FRIDAY

DECEMBER 14, 2012:– Medical Insurance

• $500 deductible• HDHP/HSA

– enroll online with/without assistance for no fee, $22 processing fee otherwise» Must have e-mail account» Must have information, SSN, spouse SSN, DL#

• Waive Insurance altogether

– Flexible Spending Account/Cafeteria Plan• Enroll• Waive

– Other forms• Available upon request