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Health Care Consumerism 101. Agenda. Consumer Directed Health Care Medical Plan Options Tax Deferred Savings HSA FSA Tools and Resources Questions and Answers. We’re all in this together. Total cost of our health care in 2015 exceeds $2 million We all share in the cost
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Agenda • Consumer Directed Health Care • Medical Plan Options • Tax Deferred Savings • HSA • FSA • Tools and Resources • Questions and Answers
We’re all in this together • Total cost of our health care in 2015 exceeds $2 million • We all share in the cost • When we spend more, we all pay more • When we spend less, we all pay less • Being wise consumers of health care helps all of us!
con·sum·er (noun) kənˈso͞omər/ 1. a person who purchases goods and services for personal use. con·sum·er·ism (noun)kənˈso͞oməˌrizəm 1. the protection or promotion of the interests of consumers.
Consumerism • Puts your needs first • Allows you to be active in your health care decisions • Helps you spend your health care dollars wisely • Empowers you to take charge of your health
Ask Questions • Before agreeing to a procedure or service, find out about less-expensive alternates • Discuss generic equivalents of brand name drugs • Consider virtual care or convenience care • Find out if outpatient services are available • Save the Emergency room for true emergencies
Pick Up the Phone or Hop Online • Find out the price of services and procedures ahead of time • Comparison shop • Ask about discounts and reduced rates
Develop a Healthy Lifestyle • Eat fresh foods, rather than processed or “fast” foods • Exercise regularly • Brush your teeth twice a day and floss daily • Don’t smoke or use tobacco products
Healthcare is Expensive If other prices had grown as quickly as healthcare costs since 1945… a dozen eggs would cost $55 a gallon of milk would cost $48 a dozen oranges would cost $134 Source: Statistical Abstract of the U.S.; National Health Expenditures (1945, 2011)
Variation means affordable options exist Contracted Allowable Costs for Shoulder Arthroscopy $2,000 to $18,000 $3,000 to $17,000 In Seattle In Baltimore $3,000 to $26,000 In Dallas
Consumer Driven Health Plan • Offered in conjunction with a vehicle that allows tax free savings/spending • Encourages consumerism • Gives you control over decision making & spending
Tax Deferred Savings/spending – HSA or FSA • Contributions lower your taxable income • Tax free savings & spending • Spend your health care dollars wisely • Withdraw funds tax-free
Flexible Spending Accounts • $5,000 Annual maximum for Dependent Care Expenses • $2,550 Annual maximum for Medical FSA
Health Savings Account Limits • 2015 IRS Maximum Investment • $3,350 Single Coverage • $6,650 Family Coverage • District Contributions • Based on plan and coverage level • HSA contributions reduce your taxable income and can be spent tax free on qualified medical, dental and vision expenses See pages 6 & 7 of Benefit Decision Guide
Consider your Care Options • Medica CallLink • Virtual care • Convenience care • Traditional office visit • Urgent care • Emergency care
2014 Medica Health Rewards • Medica - My Health Rewards • More than $12,000 in rewards waiting to be paid!
2015 MedicaHealth Rewards Take advantage of Fit Choices too
