Freight Masters Employee

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Freight Masters Employee

• HSA Presentation

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HSA Health Savings Account
Consumer Focused Integrated and
Incentivized Health Improvement Strategy
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There are two components to the HSA Concept
High Deductible Health Plan Anthem Expenses are
covered after the deductible
Health Savings Account Tax-Qualified Account
this is Your Money
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WHAT IS AN HSA?
Health Savings Account Tax-Qualified
Account Mellon Bank Dreyfus Mutual Funds

• Specially designed account owned by an
  individualunused funds accumulate from year to
  year and belong to employee, even if employee
  leaves Freight Masters.
• Contributions from both YOU and Freight Masters
  are deposited into the HSA.
• Provides the payment method to medical providers
  and for other approved medical expenses.

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Advantages of an HSA

• Increased consumer choice
• Funds rollover year to year, eliminating the use
  it or lose it philosophy
• Tax benefits on the contributions, earnings, and
  distributions
• Increases take home pay
• Long-term investment opportunity
• Portability

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Tax treatment of HSA's for employees

• Pre-tax Contributions are deducted from
  accountholders federal taxable income
• Earnings in HSA grow in the same tax-deferred
  manner as IRAs
• Distributions
• Withdrawals can be made for medical expenses
  tax-free. After age 65, funds may be withdrawn
  for any reason without penalty and medical
  expenses remain tax-free
• Did you know that during your retirement years it
  is estimated that the average person will have
  over 200,000 in medical expenses

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BENEFITS OF THE HSA

• Contributions made to the HSA from payroll are
  pre-tax.
• Contributions made directly to the HSA with
  after-tax dollars (non-payroll contributions) can
  be deducted on the IRS tax return so all
  contributions are tax-free.
• Contributions will remain tax free as long as
  they are used for qualified medical expenses
  (even after retirement and Medicare).
• Earnings (interest) on the account remain tax
  free.

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WHAT DO I DO?

• When I go to the doctor what do I do?
• At time of service you will pay medical providers
  the negotiated fee (prior to the deductible) and
  only the coinsurance amount after the deductible
  is satisfied.
• Any money that you pay your medical provider at
  the time of service will apply to your deductible
  and to your out-of-pocket expense.

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USING YOUR HSA

• EXAMPLE Office Visit

55.00 General physician visit -25.00 Network
discount 30.00 Billed to insurance
(deductible not met) 30.00 Check or debit
card payment to physician
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Preventive Care Services no cost share
no co-pay vs. PPO

• Services include but are not limited to
• Routine Exams, Pelvic Exams, Pap testing, PSA
  tests, Immunizations,
• Annual diabetic eye exam, Routine Vision and
  Hearing exams,
• Routine Mammograms, Diabetic Education, and
  Certain Medical Nutritional Therapy(Network
  only).
• Physician Home and Office Visits (PCP/SCP)
• Other Outpatient Services _at_ Hospital/Alternative
  Care Facility

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USING YOUR HSA

• EXAMPLE Prescription
• 75.00 Prescription expense
• -24.00 Network discount
• 51.00 Billed to insurance while you wait
  
  (deductible not met)
• 51.00 Check or debit card payment
  to pharmacy

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Healthy Lifestyle Programsan opportunity to add
money via gift certificates to your HSA
account by completing courses
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Your Health Savings Account Freight
Masters 600 contribution for Single 1200 for
Families
Healthy Rewards Incentives Health Risk
Assessment 50 Join Health Coach
(DM) 100 Graduate DM 200 Tobacco Cessation
50 Weight Management 50
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Integrated Incentivized Strategy
Identify, Improve Risk Care
50 account allocation for online completion
(limited to one/family each year)
100 added to account for enrollment for each
eligible family member Participation in Personal
Health Coach program Engaging with Personal
Health Coach to identify goals, educate and
manage their disease
200 added to account for mastering HealthModels
for each enrolled family member Goals achieved
with knowledge, skills and functional
provider-patient relationship
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Where to Begin - Healthy Lifestyle Programs

• 50 account allocation for successful completion
  (available for employee and spouse limited to
  one/lifetime)
• Counseling calls with tobacco treatment
  specialist
• Individualized plan, decision support for
  pharmacotherapy and nicotine replacement
  fulfillment
• Individualized participant and physician
  correspondence, unlimited access to toll-free
  support
• 50 account allocation for successful completion
• Telephonic course sessions address diet and
  healthy eating, physical activity and exercise,
  stress management, maintenance and relapse
  prevention
• Phone counseling facilitated by a registered
  dietician or health educator
• Includes course manual containing educational
  lessons for additional phone counseling sessions
• Calls scheduled at 1-to-2 week intervals

Smoking Cessation Program
Weight Management Program
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HOW MUCH SHOULD I CONTRIBUTE?

• Q. How much is Freight Masters contributing?
• 600 single, 1200 family in HSA
• Q. How much can I contribute to my HSA?
• You can contribute the difference between the
  Freight Masters contribution and your deductible.
• Q. Do I have to contribute to my HSA?
• A. No, but the more you save tax free, the better
  prepared you will be for unexpected medical
  costs.

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Compare Rx Costs at Local Pharmacies
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Prescription Drug Cost Estimator
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Live Phone Support
Phone Support for Lumenos products Customer
Service Hours (all time zones) Monday through
Friday 700 am 800 pm Saturday 900 am 100
pm All holidays except Thanksgiving and Christmas
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WHAT PLAN WILL BE BEST FOR ME?

• Analyze your actual expenses from 2006
• What are my premiums?
• Did I have a deductible and if so, what expenses
  did I pay during the deductible period?
• How much did I spend on physician visit co-pays
  after the deductible was met?
• How much did I spend on Rx co-pays?
• Did I have other expenses?

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