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City of Rocky Mount

City of Rocky Mount. 2009 Open Enrollment. Your 2009 Medical Plans: How They Compare. Add title for transition slide. Blue Options HSA. High Deductible PPO Plan. Health Savings Account (HSA) (for medical expenses). What is Blue Options HSA?. +. What is Blue Options HSA?.

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City of Rocky Mount

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  1. City of Rocky Mount 2009 Open Enrollment

  2. Your 2009 Medical Plans: How They Compare

  3. Add title for transition slide Blue Options HSA

  4. High Deductible PPO Plan Health Savings Account (HSA) (for medical expenses) What is Blue Options HSA? +

  5. What is Blue Options HSA? • High deductible PPO Health Plan • Designed to put you more in control of health care spending: • No co-payments (you pay 100% of health care and prescription costs until you meet deductible) • Learn to make more informed decisions about health care. • HSA • Tax-free savings account for medical expenses • You and/or City of Rocky Mount contribute money tax-free • You use money in your account to pay for medical expenses tax-free • Money earns interest over time and grows tax-free! • You control how to use funds in your account. • You can use your funds now or save them for future expenses

  6. How is Blue Options HSA different from the Traditional PPO plans? Different from current plan: Similar to your current plan: • Choose the doctor you want from our large network • Option of out-of-network benefits • Access to specialists with no referrals1 • You save big with our provider discounts. • Nationwide, worldwide coverage • High deductible – required by federal government • Aggregate family deductible • Use your health savings account to pay for health care services • No co-payments for services – you pay 100% until you meet your deductible • Preventative care covered at 100% 1 Referrals may be needed for mental health and substance abuse services

  7. Covered Preventive Care Services • Preventive Services Covered at 100% without having to meet your deductible • Well baby and well child care • Adult preventive care • Routine Screening tests (adult and child) • Immunizations (adult and child)

  8. Health Savings Account Features • Pay for current and future qualified medical expenses with funds in your account using a debit card • City of Rocky Mount contributes tax-free money: • $500 per benefit period for individual coverage • $500 per benefit period for family coverage Note: City of Rocky Mount will contribute the company contribution up front.

  9. How should I contribute to my HSA? • You have many options: • Contribute through payroll deduction, tax-free • Make quarterly or monthly contributions on your own (deduct on your tax return) • Contribute the maximum at the beginning of the year (deduct on your tax return) • Contribute throughout the year, as you can (deduct on your tax return) • Your 2009 contribution limits after the City of Rocky Mount contribution: • $2,500 per year for Employee only • $5,450 per year for family coverage • $1,000 per year catch-up contribution (55 or older by 12/31/09)

  10. How does a trip to the doctor work? • Visit a Blue Options in-network provider • Your provider may collect an estimated amount or bill you later • BCBSNC processes your claim for the negotiated amounts and sends you an explanation of the benefits • The provider bills you for any remaining amount of the services

  11. How do you pay for expenses from the HSA? Qualified medical expenses include: • Deductible and coinsurance amounts • Visits to your doctor • Medical procedures • Prescription drugs • AND, some things you wouldn’t expect, like: • Over-the-counter medications • LASIK eye surgery • Bandages • Visit www.irs.gov/publications/p969 for a complete list

  12. Why will I like Blue Options HSA? • Tax savings • Contribute tax-free • Save funds in your HSA tax-free • Pay for medical expenses tax-free • Aggregate deductible • All family expenses count toward a single deductible • 100% coverage after out-of-pocket max • If you spend more than your out-of-pocket maximum, BCBSNC pays all of your covered expenses (including prescription drugs) for the rest of your plan year. • This protects you from catastrophic expenses

  13. Why will I like Blue Options HSA? • Savings • The money you don’t use for medical expenses can grow over time • Portability • Take your HSA funds with you if you leave your current job • You can use them now or in the future – even in retirement • Easy online access • See all your claims and benefit information at www.bcbsnc.com/memberservices

  14. What information is available to help me make health care decisions?

  15. How do I get started? • Enroll in Blue Options HSA during the Open Enrollment • Decide how much you want to contribute for the year (in addition to your employer’s contribution) • Open your Credit Union HSA Account • Begin funding your HSA through automatic payroll deduction, electronic funds transfer or tax-deductible lump-sum deposit. • Receive and begin using your Credit Union debit card on July 1, 2009 • The Credit Union will be at the following meetings: • April 17th 8am – 1pm Environmental Services • April 22nd City Hall 1pm – 5pm

  16. Thank you!

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