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One of the options you have available to you as a Hy-Vee employee is a high-deductible health plan (HDHP 2500) that can be paired with a Health Savings Account.
Here's how the the plan works. You pay the full cost for your health care expenses — up to your deductible. Then your insurance pays benefits like a traditional plan. Because your deductible is higher, you'll pay less in premiums. You can put these savings into a tax-free health savings account (HSA) and use them to pay for your health care expenses. Plus, Hy-Vee matches your HSA contributions up to $500 annually for single coverage and $1,000 for two-person or family coverage. You can make HSA contributions up to the maximum annual limit allowed by the IRS. For 2009, the limits are $3,000 for single coverage, $5,950 for family. These limits include Hy-Vee's contribution match.
Refer to your Plan Enrollment Guide to compare all available plan options and premiums. You can find details of each plan in the Summary Plan Description available from your location's insurance coordinator or on the Hy-VeeNet. And don't forget to try the Benefit Plan Statement (log onto the Hy-VeeNet or Hy-Vee.com for employees) to help break down your medical and prescription expenses and learn how those costs would look in all plan options available to you.
Use the PDFs below to help compare your plan options and find answers to the questions you may have about high-deductible health plans and health savings accounts.
Benefits Resources
More Reading
Find out more about health savings accounts and how to be a smarter health care consumer:
Set Up an H.S.A.
Find out more about setting up an H.S.A. with Hy-Vee's preferred financial administrator, Midwest Heritage Bank. |
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