1. Presented by Steve Costello and Erin Devine of CBG Benefits
Introducing HSA Qualified Medical Insurance
Presented by Steve Costello and Erin Devine of CBG Benefits

2. Open Enrollment Changes
Choice of Two Medical Plans
Harvard Pilgrim Best Buy HMO $1,000/$2,000 Deductible
Current Plan – 3% reduction
Riedell will contribute $500 per employee to the HRA
Harvard Pilgrim Best Buy HSA HMO $2,000/$4,000
New Plan – 23% reduction
Riedell will contribute $500 per employee to the HSA
Defined Contribution Employer Funding
Guardian Dental
New Plan – 25% reduction
HR Connection Enrollment & Education Portal
Renewal Presentation
HMO Options Deductible II – 3%
PPO $1,000 Deductible with Hospital Choice Cost Share +10%
Solution: Renew HMO Options Deductible II and introduce the HSA Compatible PPO Middle Saver Deductible Plan
Presentation will:
Outline Medical Plan Design
Describe Health Savings Account (HSA)
Explain employer contributions to HSA account
Show reduced premiums for employees

3. Traditional Plan vs. HSA Plan

4. HSA Eligibility HSA Compatible Health Plan Requirements:
High-deductible medical plan
Full family or “collective deductible” deductible must be met before the plan pays benefits to any member
All Rx is subject to the plan deductible
Employees must:
Be enrolled in only a qualified health plan on the first day of any month for which eligibility is claimed
Not be enrolled in Medicare
Not be claimed as a dependent on someone else’s tax return
Not be enrolled in a standard FSA (including spouse)

5. Current Best Buy HMO $1,000 New HSA Best Buy HMO $2,000 Deductible:
$1,000/$2,000
$2,000/$4,000
Deductible Year:
Plan Year: Deductible tracked per individual; no member can incur more than the individual deductible
Plan Year: Deductible tracked per family; full family deductible must be met before plan provides benefits
In-Network
Annual Preventive Care
Covered in full
Physician Office Visit
$20 copay
Covered in full after deductible
Specialist Office Visit
Chiropractic Office Visit
PT,OT, Speech Office Visit
Mental Health Office Visit
Diagnostic Laboratory & X-Ray
Emergency Room Visit
$100 copay after deductible
$150 copay after deductible
Out-Patient Day Surgery
RX Copay 30-day supply
$5/$20/$30/$50
RX Copay 90-day supply
$10/$40/$60/$150
RX Deductible
None
Combined with medical deductible

6. Health Savings Account (HSA)
A Tax – Free Savings Account
Contribute and keep what you don’t spend
Money stays with you regardless of employment
Unlike FSA, funds roll over from year to year
Contributions can be adjusted periodically
Invest and earn interest on your balance tax free
Online portal for managing/paying bills

7. HSA Contribution Limits
HSA Contribution Limits for 2014:
Employee Only: $3,300
Family: $6,450
Note: People over age 55 can make an additional catch up contribution of
$1,000
Riedell Contributions to HSAs: Employee Contribution Max
Employee Only: $500  Employee Only: $2,800
Family: $  Family: $5,950
Note) Employees enrolled in the FSA cannot establish the HSA until February 1, 2014

8. Defined Contributions
Allowance
Annually
Monthly
Bi-Weekly
Employee Only
$3,545.90
$295.49
$136.38
Family
$9,402.32
$783.53
$361.63
Defined Contribution Applied to Medical Plan & Dental
Bi-Weekly Contribution
HMO $1,000 + Dental
HSA $2,000 + Dental
Employee Only
$113.68
$65.37
Employee + Family
$306.19
$177.69
Annual Payroll Deduction Difference - Combined Medical & Dental
HMO $1,000 + Dental
HSA $2,000 + Dental
Employee Only
-$404.30
-$1,660.36
Employee+ Family
-$979.16
-$4,320.16

9. Q. Who is eligible to open and contribute to a Health Savings Account?
A. Here are the HSA eligibility requirements:
Enrolled in a qualified HSA health Plan
No other health coverage
Not be enrolled in Medicare
Not be claimed as a dependent on someone else’s tax return
Not be enrolled in a FSA

10. Q. What happens to the money in my HSA if I leave my job, retire or enroll in a non HSA qualified Health Plan?
A. You take the money with you whenever you go. The HSA is in your name. It is your account. If you enroll in Medicare or go to another employer that doesn’t have a qualified HDHP, you can still use your HSA money to pay for co-pays and qualified medical expenses, but you won’t be able to make contributions to your HSA.

11. Q. My domestic partner is covered on my insurance plan
Q. My domestic partner is covered on my insurance plan. Can I use my HSA for my domestic partner’s medical expenses?
A. If your domestic partner meets the IRS qualifications of a tax dependent you can legally use your HSA funds for his/her medical expenses.

12. Q. Do I pay for the full doctor’s visit when I go to the doctor?
A. You are responsible to pay the amount your insurance has contracted you to pay, typically a discounted rate, until your deductible is met. You can use your HSA for this expense. It is best to have the doctor’s office put the charge through so you receive credit to the deductible and know exactly what to pay.

13. Q. I paid for an eligible medical expense out of pocket
Q. I paid for an eligible medical expense out of pocket. Can I reimburse myself with money from my HSA?
Yes.
You can reimburse yourself from your HSA for any expense incurred after the HSA was established. There is no time limit for reimbursements.

14. Q. Can I make adjustments to my HSA account contributions?
Yes.
You can make adjustments to your contributions. You must notify HR 15 days before the adjustment is to take place.

15. Q. Are there fees associated with my HSA?
A. The account set up fee and monthly admin fee are covered by your employer while you are an employee. If you leave your employer your account may be charged up to $3.95 per month or you may select another HSA Vendor.
There is no fee for electronic reimbursements and payments but $2.00 fee per paper check. Lost/stolen/damaged cards are $5.00 and paper statements are $1.00 but electronic statements are free.

16. Q. When can I invest my funds?
You can invest your funds once you reach a $2,000 balance.
You can do this through the HealthEquity web portal. Earnings are tax free and do not impact your annual contribution limit.

17. Q. How do I access my account?
A. You will receive a VISA debit card in the mail and instructions to verify your account.
You can see your account balance, claim transactions and more online. You can also pay providers, reimburse yourself and manage your personal information.
Access your account at
You can call HealthEquity at and someone is available to help 24/7/365.

18. Member Portal: log on at www.myhealthequity.com

19. Key things to know about the HRA & FSA plan:
Health Reimbursement Account (HRA) and
Flexible Spending Account (FSA)
Key things to know about the HRA & FSA plan:
The HRA and FSA vendor will be HealthEquity
HealthEquity will pay HRA claims directly to the provider
FSA participants will receive a VISA debit card
Employees enrolled in the HSA are not eligible for a standard FSA
HSA employees eligible for a limited FSA – funds can be used for dental and vision expenses only

20. Guardian Dental Dental Benefit Details In Network Out of Network
Plan Year
Calendar Year
Annual Plan Maximum (per person)
$1,000
Maximum Rollover
Included
Preventative Service
100%
Basic Service
80%
Major Service
60%
50%
Orthodontia Service
None
Waiting Period

21. HR Connection Enrollment Portal