Many people appreciate seeing how their situation will be addressed by various Medical Plan Options. The following selections provide comparisons of possible coverage scenarios. Some of you may be wondering how likely, on average, it is to experience a high claims year. The statistics below may help you to see that the likelihood of experiencing a very high claims year is fairly low. (These statistics are based upon information received from our benefits consulting firm, Foster & Foster.) 5% of people will experience $40,000 or more in annual claims in any given year. 30% of people will experience about $5,000 in annual claims in any given year. 65% of people will experience $1,000 or less in annual claims in any given year. These are simply statistics and you know your personal medical situation the best. This chart shows three different employee scenarios in annual claims and how this plays out for the HS 2000, HS 3000 and HS 5000 plans. Employee 1 — $1,000 or less in annual claims Employee 2 — $5,000 in claims Employee 3 — $40,000 and above in claims NOTE: This chart takes into account the Reliant Employer HSA Contributions that will help offset your expenses. Additionally, you may receive as much as a 20% tax savings if you elect to personally contribute into your HSA account (employee contributions). Medical Costs: $1,000 or less in claims $300 from Reliant $300 from Reliant $300 from Reliant Medical Costs Minus HSA Employer Contribution (Use the HSA account for expenses) = Total Remaining Annual Costs $0 to $1,000 -$300 =$0 to $700 $0 to $1,000 -$300 =$0 to $700 $0 to $1,000 -$300 =$0 to $700 HS 2000 Annual Cost HS 3000 Annual Cost HS 5000 Annual Cost Medical Costs: $5000 in claims Deductible: $2,000 10% Coinsurance: $300 Total: $2,300 Deductible: $3,000 10% Coinsurance: $200 Total: $3,200 Deductible: $5,000 No Co insurance Total: $5,000 $300 from Reliant $300 from Reliant $300 from Reliant Medical Costs Minus HSA Employer Contribution (Use the HSA account to pay these costs) = Total Remaining Annual Costs $2,300 -$300 = $2,000 $3,200 -$300 = $2,900 $5,000 -$300 = $4,700 HS 2000 Annual Cost HS 3000 Annual Cost HS 5000 Annual Cost Medical Costs: $40,000 and above in claims Deductible: $2,000 10% Coinsurance: $2,000 Total: $4,000 Deductible: $3,000 10% Coinsurance: $2,000 Total $5,000 Deductible: $5,000 No Co insurance Total: $5,000 $300 from Reliant $300 from Reliant $300 from Reliant Medical Costs Minus HSA Employer Contribution (Use the HSA account to pay these costs) = Total Remaining Annual Costs $4,000 -$300 = $3,700 $5,000 -$300 = $4,700 $5,000 -$300 = $4,700 Some of you may be wondering how likely, on average, it is to experience a high claims year. The statistics below may help you to see that the likelihood of experiencing a very high claims year is fairly low. (These statistics are based upon information received from our benefits consulting firm, Foster & Foster.) 1% of couples/households will experience $100,000 or more in annual claims in any given year. 4% of couples/households will experience about $40,000 in annual claims in any given year. 30% of couples/households will experience about $5,000 in annual claims in any given year. 65% of couples/households will experience about $2,100 or less in annual claims in any given year. These are simply statistics and you know your household's medical situation the best. This chart shows three different household scenarios in annual claims and how this plays out for the HS 2000, HS 3000 and HS 5000 plans. Couple/Household 2 — $5,000 in claims Couple/Household 3 — $40,000 in claims Couple/Household 4 — $100,000 and above in claims NOTE: This chart takes into account the Reliant Employer HSA Contributions that will help offset your expenses. Additionally, you may receive as much as a 20% tax savings if you elect to personally contribute into your HSA account (employee contributions). Medical Costs: $1,000 or less in claims Medical Costs Minus HSA Employer Contribution (Use the HSA account to pay these costs) = Total Remaining Annual Costs $0 to$1,000 -$600 $0 - $400 $0 to $1,000 -$600 $0 - $400 $0 to $1,000 -$600 $0 - $400 Medical Costs: $5,000 in claims Deductible: $4,000 10% Coinsurance: $100 Total: $4,100 Deductible: $5,000 10% Coinsurance: $0 Total: $5,000 Deductible: $5,000 No Co insurance Total: $5,000 $600 from Reliant $600 from Reliant $600 from Reliant Medical Costs Minus HSA Employer Contribution (Use the HSA account to pay these costs) = Total Remaining Annual Costs $4,100 -$600 = $3,500 $5,000 -$600 = $4,400 $5,000 -$600 = $4,400 Medical Costs: $40,000 in claims Deductible: $4,000 10% Coinsurance: $3,600 Total: $,000 Deductible: $6,000 10% Coinsurance: $3,400 Total: $9,400 Deductible: $10,000 No Co insurance Total: $10,000 $600 from Reliant $600 from Reliant $600 from Reliant Medical Costs Minus HSA Employer Contribution (Use the HSA account to pay these costs) = Total Remaining Annual Costs $7,600 -$600 = $7,000 $9,400 -$600 = $8,800 $10,000 -$600 = $9,400 Medical Costs: $100,000 and above in claims Deductible: $4,000 10% Coinsurance: $4,000 Total: $8,000 Deductible: $6,000 10% Coinsurance: $4,000 Total: $10,000 Deductible: $10,000 No Co insurance Total: $10,000 $600 from Reliant $600 from Reliant $600 from Reliant Medical Costs Minus HSA Employer Contribution (Use the HSA account to pay these costs) = Total Remaining Annual Costs $8,000 -$600 = $7,400 $10,000 -$600 = $9,400 $10,000 -$600 = $9,400 Some of you may be wondering how likely, on average, it is to experience a high claims year. The statistics below may help you to see that the likelihood of experiencing a very high claims year is fairly low. (These statistics are based upon information received from our benefits consulting firm, Foster & Foster.) 1% of families will experience $100,000 or more in annual claims in any given year. 4% of families will experience about $40,000 in annual claims in any given year. 30% of families will experience about $5,000 in annual claims in any given year. 65% of families will experience about $2,100 or less in annual claims in any given year. These are simply statistics and you know your family's medical situation the best. This chart shows three different family scenarios in annual claims and how this plays out for the HS 2000, HS 3000 and HS 5000 plans. Family 2 — $5,000 in claims Family 3 — $40,000 in claims Family 4 — $100,000 and above in claims NOTE: This chart takes into account the Reliant Employer HSA Contributions that will help offset your expenses. Additionally, you may receive as much as a 20% tax savings if you elect to personally contribute into your HSA account (employee contributions). Medical Costs: $1,000 or less in claims Medical Costs Minus HSA Employer Contribution (Use the HSA account to pay these costs) = Total Remaining Annual Costs $0 to$1,000 -$900 $0 - $100 $0 to $1,000 -$900 $0 - $100 $0 to $1,000 -$900 $0 - $100 Medical Costs: $5,000 in claims Deductible: $4,000 10% Coinsurance: $100 Total: $4,100 Deductible: $5,000 10% Coinsurance: $0 Total: $5,000 Deductible: $5,000 No Co insurance Total: $5,000 $900 from Reliant $900 from Reliant $900 from Reliant Medical Costs Minus HSA Employer Contribution (Use the HSA account to pay these costs) = Total Remaining Annual Costs $4,100 -$900 = $3,200 $5,000 -$900 = $4,100 $5,000 -$900 = $4,100 Medical Costs: $40,000 in claims Deductible: $4,000 10% Coinsurance: $3,600 Total: $7,600 Deductible: $6,000 10% Coinsurance: $3,400 Total: $9,400 Deductible: $10,000 No Co insurance Total: $10,000 $900 from Reliant $900 from Reliant $900 from Reliant Medical Costs Minus HSA Employer Contribution (Use the HSA account to pay these costs) = Total Remaining Annual Costs $7,600 -$900 = $6,700 $9,400 -$900 = $8,500 $10,000 -$900 = $9,100 Medical Costs: $100,000 and above in claims Deductible: $4,000 10% Coinsurance: $4,000 Total: $8,000 Deductible: $6,000 10% Coinsurance: $4,000 Total: $10,000 Deductible: $10,000 No Co insurance Total: $10,000 $900 from Reliant $900 from Reliant $900 from Reliant Medical Costs Minus HSA Employer Contribution (Use the HSA account to pay these costs) = Total Remaining Annual Costs $8,000 -$900 = $7,100 $10,000 -$900 = $9,100 $10,000 -$900 = $9,100 Health Savings Accounts All out-of-pocket medical costs may be paid for from the HSA account. See Annual HSA Contribution Limits for details of how much you can contribute into the HSA as a personal employee contribution.Employee-Only Coverage Scenarios
Out-of-pocket maximums to consider:
Examples to consider
Scenario 1: $1,000 or less in claims
HS 2000 Annual Cost HS 3000 Annual Cost HS 5000 Annual Cost $0 (preventive only) to $1,000 $0 (preventive only) to $1,000 $0 (preventive only) to $1,000 HSA employer contribution Scenario 2: $5,000 or less in claims
HSA employer contribution Scenario 3: $40,000 and above in claims
HSA employer contribution Employee + Spouse/ Employee + Child(ren) Coverage Scenarios
Out-of-pocket maximums to consider:
Examples to consider
Scenario 1: $1000 or less in claims
HS 2000 Annual Cost HS 3000 Annual Cost HS 5000 Annual Cost $0 (preventive only) to $1,000 $0 (preventive only) to $1,000 $0 (preventive only) to $1,000 HSA Employer Contribution $600 from Reliant $600 from Reliant $600 from Reliant Scenario 2: $5,000 or less in claims
HS 2000 Annual Cost HS 3000 Annual Cost HS 5000 Annual Cost HSA Employer Contribution Scenario 3: $40,000 or less in claims
HS 2000 Annual Cost HS 3000 Annual Cost HS 5000 Annual Cost HSA Employer Contribution Scenario 4: $100,000 and above in claims
HS 2000 Annual Cost HS 3000 Annual Cost HS 5000 Annual Cost HSA Employer Contribution Family Coverage Scenarios
Out-of-pocket maximums to consider:
Examples to consider
Scenario 1: $1000 or less in claims
HS 2000 Annual Cost HS 3000 Annual Cost HS 5000 Annual Cost $0 (preventive only) to $1,000 $0 (preventive only) to $1,000 $0 (preventive only) to $1,000 HSA Employer Contribution $900 from Reliant $900 from Reliant $900 from Reliant Scenario 2: $5,000 or less in claims
HS 2000 Annual Cost HS 3000 Annual Cost HS 5000 Annual Cost HSA Employer Contribution Scenario 3: $40,000 or less in claims
HS 2000 Annual Cost HS 3000 Annual Cost HS 5000 Annual Cost HSA Employer Contribution Scenario 4: $100,000 and above in claims
HS 2000 Annual Cost HS 3000 Annual Cost HS 5000 Annual Cost HSA Employer Contribution
Email: benefits@reliant.org Phone: 407-630-5904 Title: Benefits Coordinator Department: Benefits and Employment Services TeamQuestions?
Jennifer Greening
6 Comments
user-1a794
Unknown User (ed.courtney@reliant.org) - another review set by Dave.
Unknown User (ed.courtney@reliant.org)
Barb Seckler I moved this into the regular Medical Insurance area because new missionaries might find it useful when they enroll during the year.
Barb Seckler
user-3c66b This can go ahead and be edited this based on the plans that have been chosen (changing the details of the HS1500 to how the HS2000 works. If you need help with the math and scenarios please let me know. And the HS3000 needs to be updated with the new total out of pocket max of $5,000 individual/$10,000 family
user-3c66b
Barb Seckler I started working on this, but I'm going to wait until we get the HSA contribution numbers since that will change this too.
user-3c66b
Wondering if it would be beneficial to add an ER example to each of these? Or if we should just make a note that these are non-ER examples. So that we can help people understand what the $250 co-pay really means. Thoughts?
Tonya Bartels
Sarah Swann user-2ce9f I didn't want to reopen the comment that had been resolved. The tip box is great and what I would have chosen, so good job whichever of you went with it