By: Blair Hering
Role: Benefits Specialist
1. Untaxed Deductions: With High Yield Deductible Plans (HDHP) comes free Health Savings Accounts (HSA). Any money you have deducted from your payroll is deposited to your account un-taxed.
2. No Co-Pays: Need preventative care? HDHP’s cover 100% of the cost without any need for co-pay before or after your visit.
3. No More Referrals: If you want to see a specialist, no need to set an appointment with Primary. Simply locate the specialist of your choice and you’re off! Saving you valuable time.
4. You Get to Shop Around: Need prescriptions? Now you have the choice to shop around for a lower price.
5. The Cap: As healthcare costs rise, the HDHP provides a cap for employees and individuals. For instance, you can have a piece of mind knowing that you will never pay more than you expect out of pocket. Once you’re deductible is paid, medical related costs are covered by insurance 100 percent for the remainder of the year. Want to see another specialist? Now you can.
Any Thoughts? feel free to share why or why you have not made the switch.