SmarterHSA, LLC
  • Home
  • About Us
  • Benefits
  • Medicare
  • Video
  • HSA Education
    • Member Login
  • Blog
  • Current Clients

  Drew's Corner

Employee Benefits & Finance

SmarterHSA Blog #3: Traditional PPO vs. H.S.A Plans with a High Deductible

8/12/2016

0 Comments

 
​​Comparing a Traditional, Co-Pay style health plan to a High Deductible Health Plan (HDHP) can be confusing for employees. There is a perception that Co-Pay plans are richer, more comprehensive than a HDHP. While this can be the case, there is often more to the story.  
There are basic questions that employees can ask themselves to help determine the best plan for them:
  1. What is the portion of the premium that you will pay for each plan?
  2. What is the out-of-pocket max that you will pay for health costs on each plan, before the insurance carrier covers everything?
  3. What is your best case scenario (no healthcare usage--just premium paid) vs worst case scenario (high healthcare usage—premium paid + out-of-pocket max) for each plan option?
  4. Is your employer making a health savings account contribution?  This amount can be subtracted from the out-of-pocket max for the HDHP.  For example, if I am covered as a single under a $2,000-100% ($2,000 out-of-pocket max) HDHP, and my employer is contributing $1,000 annually to my Health Savings Account, my out-of-pocket max for the year is now $1,000.   
Like most things involving health insurance, selecting the correct plan can be a confusing process for employees.   Keep these items in mind as you begin to prepare for open enrollment.  
0 Comments



Leave a Reply.


    interested in talking with us?

Submit
Picture

  • Home
  • About Us
  • Benefits
  • Medicare
  • Video
  • HSA Education
    • Member Login
  • Blog
  • Current Clients