Are you interested in
reining in the costs of your medical expenses? If so, you might consider
switching your health plan to a consumer-driven health plan (CDHP) for 2013.
A CDHP is an excellent
option and a very effective tool for monitoring health care costs. A CDHP is a
health insurance plan that pays for covered services after your deductible
is met. Most employees save money with a CDHP, but only you can determine what
health plan best meets your need.
Don’t forget to take advantage of 100% first dollar
preventive care services. It is important to visit a primary care physician for
an annual physical which includes screenings for high cholesterol and diabetes,
the two most prevalent conditions among our plan members. Preventive services
are a smart way to invest in your wellbeing.
The state of Indiana
offers two CDHPs – CDHP 1 and CDHP 2. Both
plans cover the same services and the two can be compared by closely examining
the premiums, deductibles and out-of-pocket maximums.
The premium rates for
CDHPs are considerably less expensive than those of a Traditional PPO plan. For
CDHP 1, the premiums are the least expensive of all three health plans offered by
the state. They start as low as $7.74 biweekly for single coverage and $24.78
for family coverage.
State contributions to HSA benefit your CDHP
An attractive partner to
the CDHP, a health savings account (HSA) can be opened to put money aside to invest
in your future out-of-pocket expenses. If you are eligible for an HSA the state
makes the following contributions:
There are federal
guidelines for HSAs, including contribution limits. For 2013, the maximum that
can be contributed to an HSA is $3,250 for single coverage and $6,450 for
family coverage. This includes contributions made by the employee and the
state. For account holders 55 years of age and older, an additional $1,000 can
Before you make your
selections for open enrollment, invest a little time to determine which plan is
right for you. Look at your health care costs over this past year so you know
what your expenses have been. Then review the information on the three health
care plans available for 2013. Input that information into the Benefits Calculator
(www.in.gov/spd/2527.htm) and then make an informed, educated decision.
If you have further
questions, attend one of the town hall meetings or webinars or talk to a
*All examples in this
email reflect participation in the non-tobacco use incentive.