Ohio Health Insurance

1
What is a HSASM?

PPO Preferred Provider Organization Funds are
earmarked for eligible medical expenses.
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2
What is a HSASM?

• High Deductible PPO Health Plan
• Similar to a traditional PPO, except
• High deductible (required by the federal
  government)
• No co-payments
• You pay 100 of health care prescription costs
  until you meet your deductible.
• Health Savings Account (HSA)
• Tax-free savings account for medical expenses
• Contribute money tax-free
• Use money to pay for medical expenses tax-free
• Earn interest over time tax-free!

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3
Why Offer a HSASM?

• HSA can help control rising health care costs
• Consumer driven health care plans
• Lower premiums
• More informed health care decisions
• HSA provides more options managing your health
  care
• You control how to use funds
• You can use funds now or save them for future
  expenses

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4
How is an HSA different from your current plan?
Different from current plan
Similar to your current plan

• Choice of doctors
• Large network of providers
• Out-of-network benefits option
• Access to specialists with no referrals
• Provider discounts big savings
• Nationwide, worldwide coverage

• High deductible required by federal government
• Health savings account to pay for health care
  services
• No co-payments for services you pay 100 until
  you meet your deductible

Referrals may be needed for mental health and
substance abuse services.
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5
How does an HSA work?
After you reach your deductible
Before you reach your deductible

• You pay 100 of your health care and prescription
  drug expenses
• In-network preventive care is covered, without
  paying your deductible amount first
• Annual physical exams, well-baby care,
  mammograms, etc.

• Your plan pays a percentage of or all of your
  additional health care expenses

After you reach your deductible

• Most plans pay 100 of all covered expenses for
  the rest of the plan year

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6
How does the HSA work?
You, your employer, or anyone can contribute to
the HSA tax-free!

• 2010 Annual Contribution Limit
• 3,050 individual
• 6,150 family

When you use your HSA to pay for qualified
medical expenses, the money comes out tax-free!
HSA checkbook and debit card from your local
bank Use for medical expenses at doctors office,
pharmacy, etc.
If you dont use your HSA money, you dont lose
it! The fund grows - tax-free!
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7
How should I contribute to my HSA?

• You have many options
• Contribute through payroll deduction, tax-free
• Contribute on your own and deduct them on your
  tax return
• Contribute quarterly or monthly
• Contribute the maximum at the beginning of the
  year
• Contribute throughout the year, as you can
• Your 2010 contribution limits
• 3,050 per year for employee only
• 6,150 per year for family coverage
• 1,000 per year catch-up contribution (55 or
  older by 12/31/10)

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8
Using HSA Funds
Eligible medical expenses

• Deductible and coinsurance amounts
• Medical procedures
• Prescription drugs
• Visits to your doctor
• Eyeglasses, contact lenses
• Laser eye surgery
• Hearing aids
• Bandages

Visit www.irs.gov/pub/irs-pdf/p502.pdf for
guidance.
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9
Covered Preventive Care Services
Preventive services covered without having to
meet your deductible

• Well baby and well child care
• Routine physicals
• Routine Screening tests (adult and child)
• Immunizations (adult and child)
• Mammograms and Pap Smears
• Colonoscopies

Specific guidelines apply to these benefits.
Check your Member Guide for a complete list of
covered preventive care services.
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10
How are prescription drugs paid?
Prescription drugs covered just like medical
benefits

• Before you meet your deductible, you
• Pay 100 of the cost of your prescription drugs
  (discounted rates)
• Use your HSA checkbook or debit card at pharmacy

• Once you reach your deductible
• The plan pays 100 of all covered prescription
  drug expenses

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11
How does HSA work for families?

• Aggregate deductible
• All covered expenses count toward a single
  deductible for the entire family
• If you reach that deductible, you pay just a
  percentage of covered health care expenses
• Your plan pays the rest!

Note Aggregate deductible applies to all
coverage tiers except employee only.
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12
How do I manage my HSA account?

• My HSA Account tool
• Its easy and all online
• Fund balance and transactions
• Claims information
• Summary information for tax purposes
• Log on to the Member Services area of your local
  HSA vendor

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13
What happens to your HSA down the road?

• Balance of 1,500? You can invest amounts as low
  as 1
• Your HSA is portable - its yours!
• At retirement, continue to use HSA funds for
  qualified medical expenses, tax-free
• Or use the funds for non-medical expenses and
  incur the tax

Please see your HSA handbook for details.
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14
Thank You!
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