4 HSA WITH QUALIFIED HIGH-DEDUCTIBLE PLAN HSA COMPONENTSHDHPLow-Premium, High-Deductible Health PlanTHE INSURANCE PIECEHSAHealth Savings AccountTHE ACCOUNT USED TO FUND THE DEDUCTIBLE—TAX-FREEInsurance CompanyBCBS ArizonaFinancial CustodianHealthEquity4
5 You and/or Employer Contribute WHAT’S AN HSA?Savings account that you own and:Can use to pay for qualified medical expensesEarn interest onCan invest when a certain threshold is metYou and/or Employer ContributeQualifiedMedical ExpenseYour HSA
6 AM I ELIGIBLE? To qualify for an HSA, an individual: Must be covered by a qualified high- deductible health plan (HDHP)Must be 18 years or olderCan’t be enrolled in MedicareCan’t be claimed as a dependent on someone else's tax returnCan’t have other health coverage, unless permitted by the IRS (i.e.TRICARE, DoD, FSA)Take advantage of the HSA, determine who is eligible.
7 CONTRIBUTE TO YOUR HSAFor 2011, the maximum tax-free contributions the IRS allows you to make to your HSA are:Single-coverage $3,050Family-coverage $6,150Catch-up contribution, age 55 or older $1,000You can fully fund your HSA on day one, subject to the annual maximum amount.You can make contributions anytime after your HSA is open.Deposits can be made pre-tax through payroll deduction, online, or sent to HealthEquity.
9 BENEFITS OF AN HSA Save (and keep) your money Lower premiums, tax-free, long-term savingsYou own the account and the money stays with youGrow your moneyMoney rolls over year to yearAccess the best tax-savings opportunity availableContributions aren’t taxed and reduce your annual taxable incomeWithdrawals are never taxed or penalized when used for qualified medical expenses; including Rx, dental, visionEarnings aren’t taxed
10 BENEFITS OF AN HSA Continued Keep your doctorEven if your doctor isn’t a network provider, you can use your HSA to pay your billProtect your account and your pocket bookChange jobs or retire and keep your account and balanceMost HSA-qualified plans have maximum out-of-pocket limitsReach your limit, and expenses are fully covered.Before you reach your limit, use your HSA balance to pay costs.Can cover spouse/dependent expenses, even if on another health planYour spouse and dependents don’t need to be covered by the HDHP to use your HSA funds to pay their out-of-pocket medical expenses.
11 QUESTIONS TO ASK YOURSELF How much do I pay out of my paycheck for each plan?What is the deductible for each plan type?What is the out-of-pocket maximum for each plan?How much do I want to contribute to my HSA?How much will I spend on health care this coming year?What are my out-of-pocket costs for each plan type?
13 BENEFITS OF A HEALTHEQUITY® HSA 1. Easy-to-use online access to claims and paymentsIntegrates with 40+ national health plansEnroll in HSA and health plan, access claims, pay bills/get reimbursements from a single online portal2. Live service any day, anytimeLive Member Services specialists available 24/7/365
14 BENEFITS OF A HEALTHEQUITY® HSA 3. Remarkable education and supportHelp negotiating payment schedules with a providerSafe, effective ways to save on health care costsAverage costs for your ZIP codeTax tips about HSAs—for now and the future4. Plus:FDIC-insured cash depositsNo setup or inactivity feesCompetitive interest ratesFree investment options with no transaction fees—something most banks don’t offer
16 MEMBER EXPERIENCE 16 16 16 60–90 days prior 40 days prior Open Enrollment Meetings and CommunicationsAccount Screening and Set UpOngoing Interactions60–90 days prior40 days prior20 days prior17 Days prior15 days priorPlan Yr. BeginsOngoingEnrollmentHealthEquity Receives EnrollmentWelcome Kit and Debit CardFirst Login to Web Portal161616
17 MEMBER PORTAL WEB TUTORIALS www.healthequity.com/tutorials
20 HSA HOW TO: Doctor Visits Go to the doctorDoctor sends insurance company the billProvider sends bill to employeeNo co-paysInsurance carrier adjusts price based on discountsEmployee pays the provider with HealthEquity® Visa® Health Account Card**This card is issued by The Bancorp Bank pursuant to a license from Visa U.S.A. Inc. The Bancorp Bank; Member FDIC.
21 HSA HOW TO: Pharmacy Prescriptions Go to pharmacyPharmacy applies discountPharmacy sends claim to insurance companyShow medical ID cardPay with HSA cardInsurance company applies amount to your deductible– no paperwork needed
22 10 FREQUENTLY-ASKED QUESTIONS How do I contribute to my HSA?Payroll deduction for pre-tax contributions. For post-tax, call HealthEquity, go online and set up EFT, or send a check with form.How do I find out my account balance?Go online or call HealthEquity.How do I use my HSA to pay for my prescriptions?Simply swipe your HSA Visa card at the pharmacy.I forgot to pay for a prescription with my HSA card, how do I get reimbursed?Go online to set up EFT to reimburse yourself or call HealthEquity.Where can I use my HSA card?Run it like a credit card at your pharmacy or medical office.
23 10 FREQUENTLY-ASKED QUESTIONS Can I get a card for my spouse?Yes. Just let HealthEquity know when you activate your card.Will I receive a statement for my account?Yes, monthly.Is my HSA FDIC insured?Yes. (Funds you choose to invest are not).Does the money I have in my HSA roll over from year to year or do I lose the money at the end of the year?The money rolls over year to year. You don’t lose the money in your HSA. It’s your money. And you earn interest on it!Do I pay for the full doctor’s office visit when I go to the doctor?Some doctors require you pay upfront; most will bill you later. Remember, you’re only responsible to pay the discounted amount determined by your insurance benefit. Don’t let the doctor overcharge you at the point of service.
24 HealthEquity Member Services is open all day, everyday, 24/7/365 Understand and manage the financial side of health careSave and spend health care dollars more wiselyBuild equity in your health plan