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Health Saver Plans are High Deductible Health Plans, which allow participants to utilize Health Saver Accounts to save and pay for medical expenses. There are some aspects of HS plans that are different from traditional Preferred Provider Plans. HS plans are designed to be paired with a personal Health Saver Account (HSA) debit account, allowing the employee to save funds each month for medical expenses. The Health Saver Plans do not have co-pays for doctor visits or co-pays and discounts for prescriptions drugs. Participants pay 100 percent of medical and prescription drug claims until they've reached the plan's deductible (for some HS plans, the plan pays at the coinsurance level until and Out of Pocket Maximum is reached).
The GuideStone HS Plan offerings are growing more popular because they allow you to fund your medical expenses from your own personal tax-free Health Savings Account (HSA). Since introducing the HS 3000 plan in 2013, we have seen a steady migration of missionaries into this plan. HSA-compatible plans typically cost 20 percent less than a low-deductible PPO plan. Many of the ministries we connect with, like Pioneers and Wycliffe, are coming to the same conclusions and making similar HSA transitions.
HSA plans will also have an employer HSA contribution in addition to the premium.
What is Unique about Health Saver Plans?
Please be aware, the deductible is "aggregate"; this means the whole deductible is applies to the whole family. So, couples and families have to meet the entire combined deductible before they receive any coverage of insurance. This applies to both medical visits and prescriptions. If an employee has coverage with one or more dependents, the employee AND his or her dependents must meet the plan's FULL family deductible before any claims will be paid for anyone in the family, and then the family maximum out-of-pocket applies.
Also, keep in mind, if an employee has individual-only coverage, he or she must meet the individual deductible before any claims will be paid by GuideStone, and then an individual maximum out-of-pocket may apply before claims will be paid at 100% (depending on the HS plan). The GuideStone HS Plan offerings are growing more popular because they allow you to fund your medical expenses from your own personal tax-free Health Savings Account (HSA). Since introducing the HS 3000 plan in 2013, we have seen a steady migration of missionaries into this plan. HSA-compatible plans typically cost 20 percent less than a low-deductible PPO plan. Many of the ministries we connect with, like Pioneers and Wycliffe, are coming to the same conclusions and making similar HSA transitions.
HSA plans will also have an employer HSA contribution in addition to the premium.
What Are Some Advantages of Having a Health Savings Accounts?
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You can use your HSA debit card to pay for health expenses directly out of your HSA spending account.
How to Enroll and Open an HSA
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- Dependents must be at least 16 years’ old.
- Requests may be made by phone or online.
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Frequently Asked Questions
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