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

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How to Sell HSAs HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc. Eric Johnson Regional Sales Manager, First Horizon Msaver

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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 Please dont leave early Course Name: HSAs: Do the Math! 1.5 Hours CE Credit Texas

3 About Me… HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc. HSA AdministratorBased in Overland Park, KansasWere nationwide

4 More About Me… HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc. Born in Houston Live in Arlington School in Austin

5 Even More About Me… HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc. Past President of FWAHU CDHC Instructor for NAHU

6 Benefits Selling Magazine HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc. Column in Benefits Selling

7 Time for a Change

8 HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc. Not on the Same Page Obama Insurance Industry

9 Millions of Uninsured HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

10 Why is Health Insurance SO EXPENSIVE? Two Reasons: 1) Health Care is Expensive 2) Compound Interest

11 any reform must reduce the long-term costs of health care HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc. A Long Term Solution

12 A Hands Off Approach HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

13

14 Closed Door Negotiations

15 HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc. Scott Brown Wins

16 What Happened? HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

17 If You Want a Job Done Right… HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc. and get his hands dirty ***News Flash*** February 25 th Bi-partisan Health Reform talks to be aired live! Time to roll up his sleeves

18 Will they ever agree? HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc. Keep your fingers crossed

19 Compound Interest The most powerful force in the universe is compound interest. -Albert Einstein HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

20 Earn Interest Let it Ride $100 x 1.1 = $110 (interest income $10) $110 x 1.1 = $121 (interest income $11) $121 x 1.1 = $133 (interest income $12) $133 x 1.1 = $146 (interest income $13) $146 x 1.1 = $161 (interest income $15) HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

21 Compound Interest: Good for Investments Bad for Premiums HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

22 Up, Up, and Away At an average rate increase of just 10% per year, heres an 8 year projection of a $350 monthly premium. $350 HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

23 Up, Up, and Away At an average rate increase of just 10% per year, heres an 8 year projection of a $350 monthly premium. $350$385 HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

24 Up, Up, and Away At an average rate increase of just 10% per year, heres an 8 year projection of a $350 monthly premium. $350$385$424 HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

25 Up, Up, and Away At an average rate increase of just 10% per year, heres an 8 year projection of a $350 monthly premium. $350$385$424$466$512$564$620$682$750 HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

26 Wheres Your Breaking Point? Will this years rate increase be the straw that breaks the camels back? HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

27 Our Solution: CONSUMERISM HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

28 What is CDHC? HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

29 Do You Have an HSA? HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

30 HSAs are Confusing HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

31 Think Differently

32 HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc. a)To Pay for low cost, common, predictable expenses Why Do We Buy Insurance? b) To pay for high cost, infrequent, unpredictable, catastrophic expenses

33 HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc. Other Types of Insurance: a)To Pay for low cost, common, predictable expenses b) To pay for high cost, infrequent, unpredictable, catastrophic expenses Answer

34 For Example Insurance Budget HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

35 Traditional Health Plans: a)To Pay for low cost, common, predictable expenses b) To pay for high cost, infrequent, unpredictable, catastrophic expenses c) All of the Above Answer

36 FULL Coverage Deductible / Coinsurance Copayments HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

37 The Result High Fixed Premium Ignorance, Apathy, and Overutilization No Refunds for Unused Services HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

38 A New Approach BUY INSURANCE for the Big Stuff BUDGET for the Rest HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

39 The Result Lower Fixed Premium New Variable Cost More Educated, Engaged Consumers HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

40 Health Plan + Savings Account Health Plan Savings Account (Fixed Premium)(Variable Cost) HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

41 High Deductible Health Plan Health Savings Account (Fixed Premium)(Variable Cost) HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc. Health Plan + Savings Account

42 High Deductible Health Plan HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

43 High Deductible Health Plan Minimum deductible of $1,200 individual / $2,400 family HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

44 High Deductible Health Plan Minimum deductible of $1,200 individual / $2,400 family Maximum OOP of $5,950 individual / $11,900 family HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

45 High Deductible Health Plan Minimum deductible of $1,200 individual / $2,400 family Maximum OOP of $5,950 individual / $11,900 family No copays before the deductible HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

46 High Deductible Health Plan Minimum deductible of $1,200 individual / $2,400 family Maximum OOP of $5,950 individual / $11,900 family No copays before the deductible Up-front coverage for preventive care is allowed HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

47 Health Savings Account HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

48 Health Savings Account Pre-tax contributions for health care expenses HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

49 Health Savings Account Pre-tax contributions for health care expenses Up to $3,050/yr individual, $6,150/yr family (+$1, ) HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

50 Health Savings Account Pre-tax contributions for health care expenses Up to $3,050/yr individual, $6,150/yr family (+$1, ) Contributions by employer or employee HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

51 Health Savings Account Pre-tax contributions for health care expenses Up to $3,050/yr individual, $6,150/yr family (+$1, ) Contributions by employer or employee Individually owned accounts, no employer responsibility HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

52 Health Savings Account Pre-tax contributions for health care expenses Up to $3,050/yr individual, $6,150/yr family (+$1, ) Contributions by employer or employee Individually owned accounts, no employer responsibility Unused funds roll over year to year HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.

53 What is an HSA, FSA, and HRA? HSA Communication Strategies | Copyright 2009 First Horizon Msaver, Inc.


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