logging in or signing up What is a HSA? onesourcebenefits Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINT lite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: (To copy code, click on the text box) Embed: URL: Thumbnail: WordPress Embed Customize Embed The presentation is successfully added In Your Favorites. Views: 91 Category: Business & Fin.. License: All Rights Reserved Like it (0) Dislike it (2) Added: September 29, 2010 This Presentation is Public Favorites: 0 Presentation Description Leading Ohio Health Insurance Agency specializing in Individual and Family Health Insurance in Ohio. Comments Posting comment... By: onesourcebenefits (10 month(s) ago) PPT Uploaded succesfully Saving..... Post Reply Close Saving..... Edit Comment Close Premium member Presentation Transcript Slide 1: + What is a HSASM? PPO – Preferred Provider Organization *Funds are earmarked for eligible medical expenses. www.onesourcebenefits.com Toll Free: 1 (877) 549-1212 Slide 2: High Deductible PPO Health Plan Similar to a traditional PPO, except: High deductible (required by the federal government) No co-payments You pay 100% of health care & prescription costs until you meet your deductible. Health Savings Account (HSA) Tax-free savings account for medical expenses Contribute money tax-free Use money to pay for medical expenses tax-free Earn interest over time tax-free! What is a HSASM? Toll Free: 1 (877) 549-1212 www.onesourcebenefits.com Slide 3: HSA can help control rising health care costs: Consumer driven health care plans Lower premiums More informed health care decisions HSA provides more options managing your health care: You control how to use funds You can use funds now or save them for future expenses Why Offer a HSASM? Toll Free: 1 (877) 549-1212 www.onesourcebenefits.com How is an HSA different from your current plan? : * Referrals may be needed for mental health and substance abuse services. Choice of doctors Large network of providers Out-of-network benefits option Access to specialists with no referrals* Provider discounts = big savings Nationwide, worldwide coverage Different from current plan High deductible – required by federal government Health savings account to pay for health care services No co-payments for services: you pay 100% until you meet your deductible How is an HSA different from your current plan? Similar to your current plan Toll Free: 1 (877) 549-1212 www.onesourcebenefits.com How does an HSA work? : You pay 100% of your health care and prescription drug expenses In-network preventive care is covered, without paying your deductible amount first: Annual physical exams, well-baby care, mammograms, etc. After you reach your deductible Your plan pays a percentage of or all of your additional health care expenses How does an HSA work? Before you reach your deductible After you reach your deductible Most plans pay 100% of all covered expenses for the rest of the plan year Toll Free: 1 (877) 549-1212 www.onesourcebenefits.com How does the HSA work? : How does the HSA work? 2010 Annual Contribution Limit: $3,050 individual $6,150 family You, your employer, or anyone can contribute to the HSA – tax-free! HSA checkbook and debit card from your local bank Use for medical expenses at doctor’s office, pharmacy, etc. When you use your HSA to pay for qualified medical expenses, the money comes out tax-free! If you don’t use your HSA money, you don’t lose it! The fund grows - tax-free! Toll Free: 1 (877) 549-1212 www.onesourcebenefits.com How should I contribute to my HSA? : How should I contribute to my HSA? You have many options: Contribute through payroll deduction, tax-free Contribute on your own and deduct them on your tax return Contribute quarterly or monthly Contribute the maximum at the beginning of the year Contribute throughout the year, as you can Your 2010 contribution limits: $3,050 per year for employee only $6,150 per year for family coverage $1,000 per year catch-up contribution (55 or older by 12/31/10) Toll Free: 1 (877) 549-1212 www.onesourcebenefits.com Using HSA Funds : Deductible and coinsurance amounts Medical procedures Prescription drugs Visits to your doctor Eyeglasses, contact lenses Laser eye surgery Hearing aids Bandages Eligible medical expenses: Visit www.irs.gov/pub/irs-pdf/p502.pdf for guidance. Using HSA Funds Toll Free: 1 (877) 549-1212 www.onesourcebenefits.com Covered Preventive Care Services* : Covered Preventive Care Services* Preventive services covered without having to meet your deductible: Well baby and well child care Routine physicals Routine Screening tests (adult and child) Immunizations (adult and child) Mammograms and Pap Smears Colonoscopies * Specific guidelines apply to these benefits. Check your Member Guide for a complete list of covered preventive care services. Toll Free: 1 (877) 549-1212 www.onesourcebenefits.com How are prescription drugs paid? : How are prescription drugs paid? Before you meet your deductible, you: Pay 100% of the cost of your prescription drugs (discounted rates) Use your HSA checkbook or debit card at pharmacy Once you reach your deductible: The plan pays 100% of all covered prescription drug expenses Prescription drugs covered just like medical benefits: Toll Free: 1 (877) 549-1212 www.onesourcebenefits.com How does HSA work for families? : How does HSA work for families? Aggregate deductible: All covered expenses count toward a single deductible for the entire family If you reach that deductible, you pay just a percentage of covered health care expenses Your plan pays the rest! Note: Aggregate deductible applies to all coverage tiers except employee only. Toll Free: 1 (877) 549-1212 www.onesourcebenefits.com How do I manage my HSA account? : How do I manage my HSA account? My HSA Account tool It’s easy and all online Fund balance and transactions Claims information Summary information for tax purposes Log on to the Member Services area of your local HSA vendor Toll Free: 1 (877) 549-1212 www.onesourcebenefits.com What happens to your HSA down the road? : Balance of $1,500? You can invest amounts as low as $1* Your HSA is portable - it’s yours! At retirement, continue to use HSA funds for qualified medical expenses, tax-free Or use the funds for non-medical expenses and incur the tax What happens to your HSA down the road? * Please see your HSA handbook for details. Toll Free: 1 (877) 549-1212 www.onesourcebenefits.com Thank You! : Thank You! © 2010 One Source Benefits. All rights reserved. Toll Free: 1 (877) 549-1212 www.onesourcebenefits.com You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.
What is a HSA? onesourcebenefits Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINT lite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: (To copy code, click on the text box) Embed: URL: Thumbnail: WordPress Embed Customize Embed The presentation is successfully added In Your Favorites. Views: 91 Category: Business & Fin.. License: All Rights Reserved Like it (0) Dislike it (2) Added: September 29, 2010 This Presentation is Public Favorites: 0 Presentation Description Leading Ohio Health Insurance Agency specializing in Individual and Family Health Insurance in Ohio. Comments Posting comment... By: onesourcebenefits (10 month(s) ago) PPT Uploaded succesfully Saving..... Post Reply Close Saving..... Edit Comment Close Premium member Presentation Transcript Slide 1: + What is a HSASM? PPO – Preferred Provider Organization *Funds are earmarked for eligible medical expenses. www.onesourcebenefits.com Toll Free: 1 (877) 549-1212 Slide 2: High Deductible PPO Health Plan Similar to a traditional PPO, except: High deductible (required by the federal government) No co-payments You pay 100% of health care & prescription costs until you meet your deductible. Health Savings Account (HSA) Tax-free savings account for medical expenses Contribute money tax-free Use money to pay for medical expenses tax-free Earn interest over time tax-free! What is a HSASM? Toll Free: 1 (877) 549-1212 www.onesourcebenefits.com Slide 3: HSA can help control rising health care costs: Consumer driven health care plans Lower premiums More informed health care decisions HSA provides more options managing your health care: You control how to use funds You can use funds now or save them for future expenses Why Offer a HSASM? Toll Free: 1 (877) 549-1212 www.onesourcebenefits.com How is an HSA different from your current plan? : * Referrals may be needed for mental health and substance abuse services. Choice of doctors Large network of providers Out-of-network benefits option Access to specialists with no referrals* Provider discounts = big savings Nationwide, worldwide coverage Different from current plan High deductible – required by federal government Health savings account to pay for health care services No co-payments for services: you pay 100% until you meet your deductible How is an HSA different from your current plan? Similar to your current plan Toll Free: 1 (877) 549-1212 www.onesourcebenefits.com How does an HSA work? : You pay 100% of your health care and prescription drug expenses In-network preventive care is covered, without paying your deductible amount first: Annual physical exams, well-baby care, mammograms, etc. After you reach your deductible Your plan pays a percentage of or all of your additional health care expenses How does an HSA work? Before you reach your deductible After you reach your deductible Most plans pay 100% of all covered expenses for the rest of the plan year Toll Free: 1 (877) 549-1212 www.onesourcebenefits.com How does the HSA work? : How does the HSA work? 2010 Annual Contribution Limit: $3,050 individual $6,150 family You, your employer, or anyone can contribute to the HSA – tax-free! HSA checkbook and debit card from your local bank Use for medical expenses at doctor’s office, pharmacy, etc. When you use your HSA to pay for qualified medical expenses, the money comes out tax-free! If you don’t use your HSA money, you don’t lose it! The fund grows - tax-free! Toll Free: 1 (877) 549-1212 www.onesourcebenefits.com How should I contribute to my HSA? : How should I contribute to my HSA? You have many options: Contribute through payroll deduction, tax-free Contribute on your own and deduct them on your tax return Contribute quarterly or monthly Contribute the maximum at the beginning of the year Contribute throughout the year, as you can Your 2010 contribution limits: $3,050 per year for employee only $6,150 per year for family coverage $1,000 per year catch-up contribution (55 or older by 12/31/10) Toll Free: 1 (877) 549-1212 www.onesourcebenefits.com Using HSA Funds : Deductible and coinsurance amounts Medical procedures Prescription drugs Visits to your doctor Eyeglasses, contact lenses Laser eye surgery Hearing aids Bandages Eligible medical expenses: Visit www.irs.gov/pub/irs-pdf/p502.pdf for guidance. Using HSA Funds Toll Free: 1 (877) 549-1212 www.onesourcebenefits.com Covered Preventive Care Services* : Covered Preventive Care Services* Preventive services covered without having to meet your deductible: Well baby and well child care Routine physicals Routine Screening tests (adult and child) Immunizations (adult and child) Mammograms and Pap Smears Colonoscopies * Specific guidelines apply to these benefits. Check your Member Guide for a complete list of covered preventive care services. Toll Free: 1 (877) 549-1212 www.onesourcebenefits.com How are prescription drugs paid? : How are prescription drugs paid? Before you meet your deductible, you: Pay 100% of the cost of your prescription drugs (discounted rates) Use your HSA checkbook or debit card at pharmacy Once you reach your deductible: The plan pays 100% of all covered prescription drug expenses Prescription drugs covered just like medical benefits: Toll Free: 1 (877) 549-1212 www.onesourcebenefits.com How does HSA work for families? : How does HSA work for families? Aggregate deductible: All covered expenses count toward a single deductible for the entire family If you reach that deductible, you pay just a percentage of covered health care expenses Your plan pays the rest! Note: Aggregate deductible applies to all coverage tiers except employee only. Toll Free: 1 (877) 549-1212 www.onesourcebenefits.com How do I manage my HSA account? : How do I manage my HSA account? My HSA Account tool It’s easy and all online Fund balance and transactions Claims information Summary information for tax purposes Log on to the Member Services area of your local HSA vendor Toll Free: 1 (877) 549-1212 www.onesourcebenefits.com What happens to your HSA down the road? : Balance of $1,500? You can invest amounts as low as $1* Your HSA is portable - it’s yours! At retirement, continue to use HSA funds for qualified medical expenses, tax-free Or use the funds for non-medical expenses and incur the tax What happens to your HSA down the road? * Please see your HSA handbook for details. Toll Free: 1 (877) 549-1212 www.onesourcebenefits.com Thank You! : Thank You! © 2010 One Source Benefits. All rights reserved. Toll Free: 1 (877) 549-1212 www.onesourcebenefits.com