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HSAs: Do the Math Eric Johnson Regional Sales Manager, First Horizon Msaver 817-366-7536 cell |

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Presentation on theme: "HSAs: Do the Math Eric Johnson Regional Sales Manager, First Horizon Msaver 817-366-7536 cell |"— Presentation transcript:

1 HSAs: Do the Math Eric Johnson Regional Sales Manager, First Horizon Msaver cell |

2 Please sign in & out and include your license # Please dont leave early Course Name: HSAs: Do the Math! Course Number: Provider: Agent Allies, LLC Provider Number: 3626 This course has been approved by the Insurance Continuing Education Committee as New Mexico Insurance Continuing Education Course Number for 1 hour of credit. 1 Hour CE Credit New Mexico

3 Art or Science? HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

4 When you lead with science… HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

5 Step 1: Get their attention HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

6 Lead with the Art! HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

7 Do the Math! HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

8 Copay vs. HSA $3k deductible 100% Copay Plan $3k deductible 100% HDHP HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

9 Plan Design – No Copays $3,000 Deductible 100% coverage after deductible Dr: $30 Rx: $10 / $40 / $60 COPAY HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

10 Plan Design – No Copays $3,000 Deductible 100% coverage after deductible Dr: Negotiated rate / deduct. Rx: Negotiated rate / deduct. HSA $3,000 Deductible 100% coverage after deductible Dr: $30 Rx: $10 / $40 / $60 COPAY HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

11 Plan Design – No Copays $3,000 Deductible 100% coverage after deductible Dr: $30 Rx: $10 / $40 / $60 Monthly: $347 Yearly:$4,164 $3,000 Deductible 100% coverage after deductible Dr: Negotiated rate / deduct. Rx: Negotiated rate / deduct. Monthly: $297 Yearly:$3,564 COPAY HSA HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

12 Premium Savings – Put in HSA $3,000 Deductible 100% coverage after deductible Dr: $30 Rx: $10 / $40 / $60 Monthly: $347 Yearly:$4,164 $3,000 Deductible 100% coverage after deductible Dr: Negotiated rate / deduct. Rx: Negotiated rate / deduct. Monthly: $297 Yearly: $3,564 COPAY HSA $600/year HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

13 Whats the Risk? $3,000 Deductible Doctor copays Prescription copays (all paid with after tax dollars) COPAY HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

14 Whats the Risk? $3,000 Deductible Doctor copays Prescription copays (all paid with after tax dollars) $3,000 Deductible $600 deposited in HSA $2,400 Total Exposure (all paid with pre-tax dollars) COPAYHSA HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

15 Example 1 Low Utilizer HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

16 Low Utilizer Annual physical: $0 No other doctor visits or prescriptions No refund from insurance company COPAY HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

17 Low Utilizer Annual physical: $0 No other doctor visits or prescriptions $600 in HSA to use for dental, vision, or future medical expenses HSA Annual physical: $0 No other doctor visits or prescriptions No refund from insurance company COPAY HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

18 Qualified Medical Expenses HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

19 Great R.O.I. for Employers Employers will get their moneys worth Low Utilizers will appreciate their benefits Employees will be happier HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

20 The Winner and New Champion HSA COPAY HSA HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

21 Example 2 Medium Utilizer HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

22 Medium Utilizer Annual physical: $0 COPAY HSA HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

23 Medium Utilizer Annual physical: $0 2 sick visits:$60 COPAY HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

24 Medium Utilizer Annual physical: $0 2 sick visits:??? HSA Annual physical: $0 2 sick visits:$60 COPAY HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

25 Price Transparency Tools HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

26 Price Transparency Tools Office Visit, Established Patient, Level 2 (zip code 32807) Minor problem requiring a limited exam and treatment – approximately 10 minutes with the doctor $70 Office Visit, Established Patient, Level 3 (zip code 32807) Moderate problem requiring counseling and treatment, may require coordination of care with other providers – approximately 15 minutes with the doctor $113 HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

27 Medium Utilizer Annual physical: $0 2 sick visits:$60 Annual physical: $0 COPAYHSA 2 sick visits:$226 HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

28 Medium Utilizer Annual physical: $0 2 sick visits:$60 Synthroid ($10)$120 Atenolol ($8)$96 Lipitor ($60)$720 COPAY HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

29 Medium Utilizer Annual physical: $0 2 sick visits:$60 Synthroid ($10)$120 Atenolol ($8)$96 Lipitor ($60)$720 COPAY HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc. Annual physical: $0 2 sick visits:$226 Synthroid Atenolol Lipitor HSA ?

30 Price Transparency Tools HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

31 Price Transparency Tools HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

32 Price Transparency Tools HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

33 Synthroid (100 MCG ) HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc. $26.09$20.35 $20.74 $22.83 $20.79 $18.24

34 Atenolol (100 MG ) HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc. Not Listed $6.07 $8.99 $10.49 $6.32 $7.65

35 Lipitor (10 MG ) HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc. Not Listed $95.27 $97.41 $99.95 $96.59 $88.80

36 Medium Utilizer Annual physical: $0 2 sick visits:$60 Synthroid ($10)$120 Atenolol ($8)$96 Lipitor ($60)$720 COPAY HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc. Annual physical: $0 2 sick visits:$226 Synthroid ($18)$216 Atenolol ($8)$96 Lipitor($89)$1,068 HSA

37 Medium Utilizer Annual physical: $0 2 sick visits:$60 Synthroid ($10)$120 Atenolol ($8)$96 Lipitor ($60)$720 Total$996 COPAY HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc. Annual physical: $0 2 sick visits:$226 Synthroid ($18)$216 Atenolol ($8)$96 Lipitor($89)$1,068 Total$1,606 HSA

38 Medium Utilizer Total: $996 COPAY HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc. Total: $1,606 minus HSA: $ 600 HSA

39 Medium Utilizer Total: $996 Total (after tax): $996 COPAY HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc. Total: $1,606 minus HSA: $ 600 Total: $1,006 HSA

40 Federal Income Tax Brackets 2010 HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc. Tax RateMost Single FilersMarried Couples Filing Jointly 10%Not over $8,375Not over $16,750 15%$8,375 – $34,000$16,750 – $68,000 25%$34,000 – $82,400$68,000 – $137,300 28%$82,400 – $171,850$137,300 – $209,250 33%$171,850 – $373,650$209,250 – $373,650 35%Over $373,650

41 Medium Utilizer Total: $996 COPAY HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc. Total: $1,606 minus HSA: $600 minus Tax Savings $400 (25%) HSA

42 FICA Tax Rate 2010 HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc. 6.2% of first $106, % with no limit 7.65% matched by employer TOTAL

43 Texas Sales Tax Holiday HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

44

45 Medium Utilizer Total: $996 Total (after tax): $996 COPAY HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc. Total: $1,606 minus HSA: $600 minus Tax Savings $400 (25%) Total: $606 HSA

46 Medium Utilizer Total: $996 Total (after tax): $996 COPAY HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc. Total: $1,606 minus HSA: $600 minus Tax Savings $400 (25%) Total: $606 Savings vs. Copay: $390 HSA

47 Medium Utilizer Total: $996 Total (after tax): $996 Remaining Risk: $3,000 + addl copays COPAY HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc. Total: $1,606 minus HSA: $600 minus Tax Savings $400 (25%) Total: $606 Savings vs. Copay: $390 Remaining Risk: $1,394 HSA

48 The Winner and Still Champion HSA COPAY HSA HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

49 Example 3 High Utilizer HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

50 High Utilizer Annual physical: $0 COPAY HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

51 High Utilizer Annual physical: $0 4 sick visits: $120 COPAY HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

52 High Utilizer Annual physical: $0 4 sick visits: $120 1 Generic ($10) $120 1 Brand ($40) $480 1 Non-Form. ($60) $720 COPAY HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

53 High Utilizer Annual physical: $0 4 sick visits: $120 1 Generic ($10) $120 1 Brand ($40) $480 1 Non-Form. ($60) $720 1 Hospital Visit: $3,000 COPAY HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

54 High Utilizer Annual physical: $0 4 sick visits: $120 1 Generic ($10) $120 1 Brand ($40) $480 1 Non-Form. ($60) $720 1 Hospital Visit: $3,000 Total: $4,440 COPAY HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

55 High Utilizer Annual physical: $0 4 sick visits: $120 1 Generic ($10) $120 1 Brand ($40) $480 1 Non-Form. ($60) $720 1 Hospital Visit: $3,000 Total: $4,440 Deductible: $3,000 COPAYHSA HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

56 High Utilizer Total: $4,440 Deductible: $3000 minus HSA: $600 COPAY HSA HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

57 High Utilizer Total: $4,440 Deductible: $3000 minus HSA: $600 minus tax savings: $750 COPAY HSA HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

58 High Utilizer Total: $4,440 Total (after tax): $4,440 Deductible: $3,000 minus HSA: $600 minus tax savings: $750 Total (after tax): $1,650 COPAY HSA HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

59 High Utilizer Total: $4,440 Total (after tax): $4,440 Deductible: $3,000 minus HSA: $600 minus tax savings: $750 Total (after tax): $1,650 Savings: $2,790 COPAY HSA HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

60 High Utilizer Total: $4,440 Total (after tax): $4,440 Remaining Risk:Copays Deductible: $3,000 minus HSA: $600 minus tax savings: $750 Total (after tax): $1,650 Savings: $2,790 COPAY HSA HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

61 High Utilizer Annual physical: $0 6 sick visits: $180 2 Generic ($10) $240 2 Brand ($40) $960 2 Non-Form. ($60) $1,440 1 Hospital Visit: $3,000 Total: $5,820 COPAY HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

62 High Utilizer Total: $5,820 Total (after tax): $5,820 Deductible: $3,000 minus HSA: $600 minus tax savings: $750 Total (after tax): $1,650 Savings: $4,170 COPAY HSA HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

63 High Utilizer Total: $5,820 Total (after tax): $5,820 Remaining Risk:Copays Deductible: $3,000 minus HSA: $600 minus tax savings: $750 Total (after tax): $1,650 Savings: $4,170 Remaining Risk: $0 COPAY HSA HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

64 Knockout! HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

65 The Undisputed Champion HSA COPAY HSA HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

66 This is the money you could be saving by switching to an HSA HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc. Note: You could also save this money by switching to Geico.

67 Dual Option Choice is an important part of consumerism At renewal, employees will do the selling HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

68 The Science of HSAs HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

69 Frequently Asked Questions (The remaining slides all come from the above link.) HSA s: Frequently Asked Questions | Copyright 2010 Eric Johnson

70 Questions? HSA s: Frequently Asked Questions | Copyright 2010 Eric Johnson

71 Thank You!!! HSA s: Frequently Asked Questions | Copyright 2010 Eric Johnson


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