Copyright 2010 First Horizon Msaver, Inc. AGENDA What is an HSA? Elements of Consumerism HSA Examples – Do the Math Resources Studies – HSAs are working! HSA Usage Trends Health Reform and CDHPs Connect with Eric on Linked In!
Copyright 2010 First Horizon Msaver, Inc. HEALTH SAVINGS ACCOUNTS
Copyright 2010 First Horizon Msaver, Inc. Think Differently
Copyright 2010 First Horizon Msaver, Inc. Think Differently
Copyright 2010 First Horizon Msaver, Inc.
a)To Pay for low cost, common, predictable expenses Why Do We Buy Insurance? b) To pay for high cost, infrequent, unpredictable, catastrophic expenses
Copyright 2010 First Horizon Msaver, Inc. Other Types of Insurance: a)To Pay for low cost, common, predictable expenses b) To pay for high cost, infrequent, unpredictable, catastrophic expenses Answer
Copyright 2010 First Horizon Msaver, Inc. For Example Insurance Budget
Copyright 2010 First Horizon Msaver, Inc. Traditional Health Plans: a)To Pay for low cost, common, predictable expenses b) To pay for high cost, infrequent, unpredictable, catastrophic expenses c) All of the Above Answer
Copyright 2010 First Horizon Msaver, Inc. FULL Coverage Deductible / Coinsurance Copayments
Copyright 2010 First Horizon Msaver, Inc. The Result High Fixed Premium Ignorance, Apathy, and Overutilization No Refunds for Unused Services
Copyright 2010 First Horizon Msaver, Inc. A New Approach BUY INSURANCE for the Big Stuff BUDGET for the Rest
Copyright 2010 First Horizon Msaver, Inc. The Result Lower Fixed Premium New Variable Cost More Educated, Engaged Consumers
Copyright 2010 First Horizon Msaver, Inc. Health Plan + Savings Account Health Plan Savings Account (Fixed Premium)(Variable Cost)
Copyright 2010 First Horizon Msaver, Inc. High Deductible Health Plan Health Savings Account (Fixed Premium)(Variable Cost) Health Plan + Savings Account
Copyright 2010 First Horizon Msaver, Inc. High Deductible Health Plan
Copyright 2010 First Horizon Msaver, Inc. High Deductible Health Plan Minimum deductible of $1,200 individual / $2,400 family
Copyright 2010 First Horizon Msaver, Inc. High Deductible Health Plan Minimum deductible of $1,200 individual / $2,400 family Maximum OOP of $5,950 individual / $11,900 family
Copyright 2010 First Horizon Msaver, Inc. High Deductible Health Plan Minimum deductible of $1,200 individual / $2,400 family Maximum OOP of $5,950 individual / $11,900 family No copays before the deductible
Copyright 2010 First Horizon Msaver, Inc. High Deductible Health Plan Minimum deductible of $1,200 individual / $2,400 family Maximum OOP of $5,950 individual / $11,900 family No copays before the deductible Up-front coverage for preventive care is allowed
Copyright 2010 First Horizon Msaver, Inc. Health Savings Account
Copyright 2010 First Horizon Msaver, Inc. Health Savings Account Pre-tax contributions for health care expenses
Copyright 2010 First Horizon Msaver, Inc. Health Savings Account Pre-tax contributions for health care expenses Up to $3,050/yr individual, $6,150/yr family (+$1, )
Copyright 2010 First Horizon Msaver, Inc. Health Savings Account Pre-tax contributions for health care expenses Up to $3,050/yr individual, $6,150/yr family (+$1, ) Contributions by employer or employee
Copyright 2010 First Horizon Msaver, Inc. Health Savings Account Pre-tax contributions for health care expenses Up to $3,050/yr individual, $6,150/yr family (+$1, ) Contributions by employer or employee Individually owned accounts, no employer responsibility
Copyright 2010 First Horizon Msaver, Inc. Health Savings Account Pre-tax contributions for health care expenses Up to $3,050/yr individual, $6,150/yr family (+$1, ) Contributions by employer or employee Individually owned accounts, no employer responsibility Unused funds roll over year to year