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Health Savings Accounts Plan Year 2015

What is new for 2015
Questions about HSA Option eligibility
Questions about HSA Option medical coverage
Questions about HSA Option costs
Questions about Health Savings Accounts
Learn about PayFlex
2015 HSA Preventive List

 

What’s new for 2015?

The HSA contribution limits and high deductible health plan out-of-pocket maximums are up slightly over 2014. For the first time in three years, the HDHP minimum required deductibles have increased.

HSA contribution limits:
Individuals (self-only coverage) - $3,350 (up $50 from 2014)
Family coverage - $6,650

HDHP minimum required deductibles:
In-Network
$1,300 for self-only coverage
$2,600 for family coverage

Out-of-Network
$2,600 for self-only coverage
$5,200 for family coverage

Out-of-pocket maximum:
In Network:
Out-of-pocket maximum: 
$2,000 for self-only coverage
$4,000 for family coverage

Out of Network:
Out-of-pocket maximum: 
$5,000 for self-only coverage
$10,000 for family coverage


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Questions about HSA Option eligibility

Who is eligible to enroll in the HSA Option?
Any employee eligible for benefits may enroll in the HSA Option. In order for an employee to open or contribute to an HSA, however, he/she must not be...

  • covered by any non-HSA-qualified health plan
  • entitled to benefits under Medicare
  • claimed as a dependent on another person’s tax return
  • participating in a flexible spending account (FSA) program in its active period
  • participating in an FSA program in its grace period if his/her FSA balance at the end of the active period was greater than zero.

Can an HSA Option member open a flexible spending account (FSA)?
Yes, but only a limited FSA (one that reimburses dental and vision expenses only).


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Questions about HSA Option medical coverage

Can an HSA Option member use out-of-network providers?
Yes, although it is more expensive than using in-network providers.

Does an HSA Option member need a referral to see a specialist?
No, specialists may be seen without a referral.

Is an HSA Option member eligible for disease management and wellness services (on-site mammography, mini health screenings, flu shots, classes, etc.)?
Yes, he/she is eligible for all the above.

What is considered “preventive care”?
Preventive care is defined as:

  • Periodic health evaluations, including tests and diagnostic procedures ordered in connection with routine examinations (i.e., annual physicals)
  • Routine prenatal and well-child care
  • Child and adult immunizations
  • Tobacco cessation programs
  • Obesity weight-loss programs
  • Certain screening services
  • Prescriptions that are preventive in nature (click here)

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Questions about HSA Option costs

Is the HSA Option cheaper than the other plans?
There are two types of expenses associated with health plan coverage:

  • Premium (the amount deducted from your paycheck)
  • Cost sharing (copays and coinsurance)

With regard to premium, the HSA Option is the least expensive Benefit Options health plan.
With regard to cost sharing, the HSA Option may or may not be cheaper than the other plans, depending on how the member uses the benefit. For members who use only preventive services/prescriptions, the HSA Option will be cheaper. For members who use non-preventive services/prescriptions or who experience medical emergencies, the other plans will likely be cheaper.

 

Member Cost (in-network*)

HSA Option

EPO Plan

PPO Plan

Preventative services

Covered at 100%

Copay

Copay

Preventative prescriptions

Copay

Non-preventative services

Up to $2,000 single or $4,000 family

Non-preventative prescriptions

Emergency

*Out-of-network services will cost the member more.

See pages 18 to 21 of your enrollment guide for more financial considerations.


Does the HSA Option member have to pay a deductible?
There is no deductible for preventive services/prescriptions.

For non-preventive services/prescriptions, the HSA Option member must satisfy the deductible ($1,300 single/$2,600 family in-network; $2,600 single/5,200 family out-of-network) before the health plan will start covering expenses.


The State makes a per pay period contribution to the member’s HSA: $27.70 (single) or $55.39 (family). This money can be used to pay all or some of the deductible.


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Questions about Health Savings Accounts (HSAs)
What is a health savings account (HSA)?
An HSA is a special type of savings account that allows individuals to pay for current health expenses and save for future qualified medical and retiree health expenses on a tax-free basis. HSA funds can be invested similarly to funds in an IRA.


You can learn more about how an HSA works by visiting: http://www.aetna.com/hsa/welcome_video01.html

 

To review and HSA Fee Schedule click HERE.


Who is eligible to open an HSA? Who is eligible to contribute to an HSA? Who is eligible to use the funds contained within his/her HSA?
In order to open or contribute to an HSA, a person must be...

  • enrolled in one or more HSA-qualified health plans

and must not be...

  • covered by any non-HSA-qualified health plan
  • entitled to benefits under Medicare
  • claimed as a dependent on another person’s tax return
  • participating in a flexible spending account (FSA) program in its active period
  • participating in a FSA program in its grace period if the FSA balance at the end of the active period was greater than zero.

A health plan is HSA-qualified if it meets certain requirements with respect to deductibles and out-of-pocket maximums. The HSA Option is the only Benefit Options health plan that is HSA-qualified.

Money may be withdrawn from an HSA at anytime regardless of the HSA owner’s health plan type. These withdrawals are tax- and penalty-free when the money is used to pay qualified medical expenses. Benefit Options recommends that you keep detailed records (including original receipts) for all HSA withdrawals.


What are considered “qualified medical expenses”?
A list of qualified medical expenses can be found at: https://www.payflexdirect.com/ConsumerCenter/PlanningTools/EligibleHealthCareExpenses.aspx or click here for the qualified medical expenses (pdf).

What is the maximum amount that I can contribute to my HSA this plan year?
Please click here for an explanation of HSA maximum contributions.

How do I have HSA contributions deducted from my paycheck?
You need to complete a payroll deduction form. Download the form by clicking here.


Where can I find forms to manage my HSA?
Visit www.aetna.com and register for Aetna Navigator. Under “Account and funds” click “Access your account” to access your HSA. Then choose “Resource Center” tab and then under Administrative Forms and Health Savings Account forms.  View the details of your HSA, then choose TOOLS & RESOURCES, FORMS & DOCUMENTS. You can also contact Aetna member services by calling the phone number printed on your card.


Has the Department of the Treasury published any information about HSAs?
Yes, you can find information at: http://www.ustreas.gov/offices/public-affairs/hsa/faq.shtml

 

Important Disclosure Information
HSA Custodial Agreement for 2015

 

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Learn about Payflex

PayFlex Reference Guide (pdf)
PayFlex  Debit Card Information (pdf)
PayFlex Mobile Application Information (pdf)

 

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