This page contains information about Health Saver plans in general. For specific options and rates, see Medical Insurance Coverage and Rates 2018. |
For a thorough explanation of our Health Saver plans, download this PowerPoint presentation by Dave Meldrum-Green, Reliant's Director of Organizational Affairs & Treasurer. The PowerPoint was prepared back in 2016.
Health Saver plans are High-Deductible Health Plans (HDHP) that allow participants to utilize Health Savings Accounts to save and pay for their current and future medical expenses. There are some aspects of HS plans that are different from traditional Preferred Provider Plans (PPOs). HS plans are designed to be paired with a personal Health Savings Account (HSA) bank 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 co-insurance level until an annual Out-of-Pocket Maximum is reached.)
HSA-compatible plans typically cost 20 percent less than a low-deductible PPO plan. Many of the ministries we connect with, such as Pioneers and Wycliffe are utilizing HSA Plans for their missionaries.
HSA plans will also have an Employer HSA Contribution in addition to the plan premium.
Please be aware, the deductible is "aggregate"; this means the whole deductible 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).
Triple Tax Savings:
Reliant will contribute to your HSA each month, if you elect annually (though Open Enrollment or via a Cafeteria Plan form) to make regular employee (payroll deduction) contributions into the HSA account. There is also a monthly employer HSA contrbution that comes partially from the MTD account and is partially subsidized by Reliant.
You can take your personal HSA spending account with you if you leave employment with Reliant (you own it!).
You can invest your money in mutual funds for more tax-free earnings (with a $500 minimum account balance).
You can use your HSA debit card to pay for health expenses directly out of your HSA spending account.
Q: Are the in-network doctors and facilities the same for all the plans ?
A: Yes.
Q: Is preventative care defined the same way in all the different plan options?
A: Yes.
Q: Can you roll over the savings in your HSA year after year?
A: Yes.
Q: What if your doctor bill is higher than the amount in your HSA?
A: You can either pay out of pocket and reimburse yourself later with your HSA account funds, or you can ask to be put on a payment plan with your doctor using your HSA for the payment.
Q: Can you deposit money into your HSA with personal deposits in addition to payroll deductions?
A: Yes. You'll want to be aware of annual IRS maximums so that you don't exceed the allowed annual maximum.
Q: What are the covered medical expenses that I can pay for using my HSA debit card?
A: Any medical expense that is actually a medical expense. These include doctor visits, prescriptions, dental costs, vision costs, birth control, and any care that is prescribed by a doctor (you'll want to keep the note from the doctor in your records). Ultimately, allowed expenditures are guided by IRS regulations. Here is one accounting firm's detailed list: https://tax.thomsonreuters.com/hcet-ebia/hmrk. Be aware that you will need to keep receipts of your expenditures for your tax records.
Q: Can you reimburse an eligible medical expense from my HSA if I paid out of pocket for it?
A: Yes. See Filing a Reimbursement from your HSA for details about this process.
| For more HSA answers, see www.highmarkbcbs-hsa.com or Guidestone HSA FAQs. |
| “Honestly the Health Saver 3000 HSA did take a little getting used to, but my wife and I have been very happy with it so far. We chose to invest enough that we expect to probably carry an excess balance over from one year to the next. At this point, it looks like that will happen. One thing this means is that our family budget for health care next year will actually be reduced since we will already be carrying over some funds in the HSA from this year.” – Steve |
| “The HSA payment card is super easy to use. Just like a debit card! Also, since we don’t have significant health-care needs at this point, we like the ability to save up for the future with lower premiums. We also like the freedom to spend our money saved on out-of-network expenses.” – David |
| “As a family that has ALWAYS met our out-of-pocket max each year, this year we’ve paid out from our own pockets LESS than every year before and done it with pre-tax dollars!” – Heather |
| “I like that it did make us think through what medical decisions we were making. I also like that it would allow us to save up for orthodontic work tax-free. I just wish that I had the HSA option back in my 20s and had put aside the savings from a traditional PPO into my HSA account. It would have really been worth having that HSA account balance in my 30s!” – Luke |
* This video only mentions the HS 3000 plan. Reliant now also offers HS 1500 and HS 5000 plans.