©2008 regence blueshield of idaho regence hsa healthplan a new kind of health care coverage [enter...
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©2008 Regence BlueShield of Idaho
Regence HSA Healthplan
A new kind of health care coverage
[Enter Your Own Information Here]
[Enter Your Client’s Information Here]
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©2008 Regence BlueShield of Idaho
Regence HSA Healthplan
What is an HSA? How does it work?
The Power of HSA
The Power of Regence
Banking Partners Seamless Integration – Regence Financial
Services Banking Solution – HSA Bank Banking Solution – Wells Fargo Comparison of Banking Partners
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©2008 Regence BlueShield of Idaho
What is an HSA?How does it
work?
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©2008 Regence BlueShield of Idaho
Health Savings Accounts: How it Works
Enroll in an HSA-qualified HSA-qualified health planhealth plan
Open a Health Health Savings Savings AccountAccount
The health The health plan and HSA plan and HSA work togetherwork together
coverage under the health plan kicks in once the deductible is reached
the account belongs to the member
contributions are tax-deductible
start paying for qualified medical expenses from the HSA right away
save and invest for future health care expenses or retirement
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©2008 Regence BlueShield of Idaho
More About the Health Plan
Members must be covered by an HSA-Qualified health plan to be eligible for a Health Savings Account
Premiums are generally more affordable than traditional health plans
You control your overall costs by determining how much you’d like to fund the savings account with your savings in premium on the health plan
IRS Rules for IRS Rules for HSA-Qualified Health PlansHSA-Qualified Health Plans
Larger deductible amounts
Maximum OOP amounts
Preventive care can be offered before the deductible
Prescription benefits are built into the medical plan
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©2008 Regence BlueShield of Idaho
Contribution to the account Annual contribution maximums are determined by the IRS Anyone can make contributions to the member’s savings
account Contributions are fully tax-deductible for the member
Ownership & use of the account The member owns the funds permanently, which roll-over each
year and follow you wherever you go HSA funds can be invested for future medical expenses or
retirement HSA funds can be spent tax-free for qualified medical expenses
More about the HSA
HSA-Qualified Medical ExpensesHSA-Qualified Medical Expenses
Deductibles Coinsurance Prescription medications
Alternative care OTC medications Contacts & Glasses
Expenses covered by the health plan, such as… Lasik eye surgery
Weight-loss surgery And many more!
Expenses over and above what’s covered by the health plan, such as…
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©2008 Regence BlueShield of Idaho
Eligibility Rules
Eligibility to the Regence HSA Healthplan Same Regence BlueShield Individual medical plan eligibility
guidelines apply
Eligibility to the savings account (IRS guidelines)
Members must meet the following IRS guidelines to open an HSA
Must be enrolled in an HSA-qualified health plan Not have coverage under another health plan, such as a spouse’s
plan Cannot be enrolled in Medicare Cannot be claimed as a dependent on someone else’s tax return
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©2008 Regence BlueShield of Idaho
The Power of HSA
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©2008 Regence BlueShield of Idaho
HSA: A Different Kind of Health Plan
ContributionControl
You choose the contribution amount, giving you more control over your annual health care costs
Your contribution expenses become growing assets, as they roll over each year and even offer tax-free investment
You have ultimate choice – you can spend your HSA funds today on services you choose, or save them for future health care expenses
You have ultimate ownership over their health care dollars You own the funds You own the decisions
PlanPersonalizatio
n
Roll Over
OWNERSHIP
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©2008 Regence BlueShield of Idaho
Triple Tax Advantages
An HSA is the only investment opportunity An HSA is the only investment opportunity that offers this unique triple tax savings that offers this unique triple tax savings
Tax FreeTax Free
Contributions are Contributions are not included in not included in
the member’s the member’s taxable incometaxable income
Tax FreeTax Free
Interest and Interest and investment gains investment gains
are not taxedare not taxed
Tax FreeTax Free
Money for qualified Money for qualified medical expenses can medical expenses can
be withdrawn tax- be withdrawn tax-freefree
When money goes in
When money grows When money comes out
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©2008 Regence BlueShield of Idaho
The Power of Regence
12©2008 Regence BlueShield of Idaho
Regence’s Full Service Solution
Robust Robust Benefit Benefit
PackagePackage
NavigationaNavigational Toolsl Tools
PersonalizedPersonalizedSupportSupport
Unlimited, upfront preventive care and built-in wellness programs
Coverage against the unexpected
Support at each step of the way, with an option for seamless integration
Multiple lifelines for personalized
support
Guided tours from the basis
to plan customization
and total ownership
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©2008 Regence BlueShield of Idaho
Robust Benefit Package
Unlimited preventive care coverage before the deductible gives you access to the care you and your family are most likely to use
Built-in wellness programs help you lead healthier life, including:
24 access to CareEnhance® Nurseline Regence Health Coaches for 1:1 support Special Beginnings maternity program
WellnessWellness
PreventivePreventive
Financial Financial ProtectionProtection
Catastrophic coverage protects you against the unexpected
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©2008 Regence BlueShield of Idaho
Benefit SnapshotBenefit OptionsBenefit Options
Provider NetworksProvider Networks
Lifetime MaximumLifetime Maximum
Deductible OptionsDeductible Options
OOP MaximumOOP Maximum
CoinsuranceCoinsurance
Office VisitsOffice Visits
Preventive CarePreventive Care
PrescriptionsPrescriptions
In-NetworkIn-Network
Regence PPO
$2 million
$1,500 single / $3,000 family$2,500 single / $5,000 family$3,500 single / $7,000 family
$5,000 single / $10,000 family
80%
Deductible & coinsurance
Deductible waivedNo annual limits
80% coinsurance
50% (Subject to medical deductible)
Out-of-NetworkOut-of-Network
Participating / Non-Participating
60%
Deductible & coinsurance
Deductible waivedNo annual limits
60% coinsurance
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©2008 Regence BlueShield of Idaho
Your GuideYour Guide
to HSAto HSA
Welcome.
Navigational Tools
Scenario-based Scenario-based education tool education tool & calculator for & calculator for plan selectionplan selection
HSA Flash Tutorial HSA-trained customer HSA-trained customer
service advocatesservice advocates 24-hour Nurseline24-hour Nurseline Personal health Personal health
coachescoaches
Member Welcome Kit Guided tour Guided tour
takes members takes members through the set-through the set-up process and up process and HSA resourcesHSA resources
A community of A community of Regence membersRegence members
Ask-the-HSA ExpertAsk-the-HSA Expert Podcasts, webinars Podcasts, webinars
and helpful articlesand helpful articles
Personalized 1:1 Support
myRegence.com
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©2008 Regence BlueShield of Idaho
Seamless Integration:Regence Financial
Services
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©2008 Regence BlueShield of Idaho
Introducing Regence Financial Services
Simple Solutions - Powerful Tools - One Point Of Accountability
CAUSE
Reducing Waste,
Confusion & Fear Integrated Enrollment one implementation process
Integrated Claims automatic payment
Regence Member Service single source for help
Integrated online access tools to manage wealth & health
Flexible options customized to your needs
=
=
=
=
Regence Financial Regence Financial ServicesServices
CONSUMERISM
Actively Engaging our Members in their
Health Care Decisions
COMMUNITY
Leveraging the Power of our
Members =
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©2008 Regence BlueShield of Idaho
RFS – Industry-Leading Services
One website for all your needs Online enrollment Review account balances, payment
status, contributions, and transactions
Enroll or change investment choices Make payments from HSA account
Monthly consolidated statements Activity from all accounts held by
the member will be summarized on a statement, including:
Debit card transactions Payments, contributions, and
balances Investment activity
Unmatched Online Services
Easy Money Management
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©2008 Regence BlueShield of Idaho
RFS – Investment Optimization HSA Investments
Members can invest in more than 60 funds, managed by Fiserv Trust Company
One low monthly fee for participation in investments After initial investment of $500, investments can be made in
increments as low as $25 each Online enrollment & investment management via
myRegence.com
Competitive interest rates paid on funds that are not invested
HSA Balance Interest paid on deposit balances
$0-1,000 1.25%
$1000.01-2,500 2.00%
$2,500.01-5,000 2.75%
$500.01-15,000 3.5%
$15,000.01 and over 4.75%
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©2008 Regence BlueShield of Idaho
RFS (Blue Healthcare Bank) Rate Chart
HSA Set-UpOne Time Enrollment
Fee Monthly Fees/ Participant*
Paper Online Account Investment
No Agent Commission $15.00 $10.00 $3.00 $1.75
With Agent Commission $16.00 $12.00 $3.50 $1.75
* Monthly fees waived if balance is over $2,000
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©2008 Regence BlueShield of Idaho
Banking Solution:HSA Bank
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©2008 Regence BlueShield of Idaho
HSA Bank
Banking Experience A national leader in HSA
Accounts with a high level of experience
Provides both online and paper enrollment
Website allows members to check account balance, transfer funds, and integrates with MS Money or Quicken
Debit card, checks and manual reimbursement available
Investment Options Employees can transfer
funds easily between their HSA account and the Brokerage
Access to stocks, bonds, and over 11,000 mutual funds
Employees can make trades online, over the phone, or through a broker
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©2008 Regence BlueShield of Idaho
HSA Bank Rate Chart
Service Description
Rate orCharge
Monthly Fee$3.25 (waived if balance is over
$3,000)
Set-up Fee No charge
Debit Cards No charge
Investments See terms and conditions
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©2008 Regence BlueShield of Idaho
Banking Solution:Wells Fargo
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©2008 Regence BlueShield of Idaho
Wells Fargo Bank
Banking Experience Wells Fargo is one of the
largest Financial Services institutions in the nation
Paper enrollment only Website allows members to
view account balance and download forms
Funds are accessed through debit cards or through manual reimbursement requests – reimbursements are direct deposited to employees account
Investment Options 6 different investment
options are available Options range from more
conservative money market funds to a 100% equity option
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©2008 Regence BlueShield of Idaho
Wells Fargo Rate Chart
Service Description
Rate orCharge
Monthly Fee$3.75 (waived if balance is over
$2,500)
Set-up Fee No charge
Debit Cards No charge
Investments No charge
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©2008 Regence BlueShield of Idaho
Banking Partner Comparison
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©2008 Regence BlueShield of Idaho
Comparison of Banking Partners
Feature Blue HealthCare Bank
HSA Bank Wells Fargo
Monthly Fee
$3.00 (waived for balances over $2000)
$3.25 (waived for balances over $3000)
$3.75 (waived for balances over $2500)
Set up fee $15 paper, $10 online None None
Investment Options
60 different investment funds available through Fiserv
Ameritrade & HSA Bank Money Market Account
6 Wells Fargo managed funds
Enrollment Online and paper Online and paper Paper only
Access to Funds
Debit card and checks available or via reimbursement request
Debit card and checks available or via reimbursement request
Debit card or via reimbursement request
Account Management
Integrated on the Regence Engine
Separate website Separate website
Customer Service
Regence Customer service handles both HSA and health plan questions
HSA bank customer service handles HSA questions. Regence handles health plan questions.
Wells Fargo customer service handles HSA questions. Regence handles health plan questions.
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©2008 Regence BlueShield of Idaho
Regence HSA Healthplan
Regence offers a full-service HSA solution, with: A robust benefit package that combines
comprehensive preventive care and wellness programs with solid coverage
A full suite of member tools and personalized support to facilitate navigation at every step of the way
Providing one-stop integrated service for both health plan and financial services
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