High Deductible Health Plan/Health Savings Account Sample Clauses

High Deductible Health Plan/Health Savings Account the Committee shall provide employees a high-deductible health plan (“HDHP”) option, with the same benefits, levels of coverage, and limitations as provided in the PPO, in conjunction with portable, individual Health Savings Accounts (“HSA”1), pursuant to changes in the Internal Revenue Code made possible by the Medicare Modernization Act of 2003. Effective for all employees hired for the 2019-2020 school year and beyond, the HDHP option shall be the standard health insurance plan offered to members of the bargaining unit. New employees shall be provided with the Preferred Provider Organization (PPO) plan with co-shares and co-pays consistent with this agreement until January 1st of the first year of employment. At that time, new employees shall convert to the HDHP HSA plan.
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High Deductible Health Plan/Health Savings Account. Item Effective 1/1/2020 In Network Out of Network Annual Deductible Single $2,000.00 $4,000.00 Family $4,000.00 $8,000.00 Coinsurance 20% 40% Copays Primary Care Visit Deductible & Coinsurance Specialist Visit Deductible & Coinsurance ER Copay Deductible & Coinsurance Telemed Deductible & Coinsurance Maximum Out of Pocket Single $3,000.00 $6,000.00 Family $6,000.00 $12,000.00 Prescription Drug Deductible and Co-pays Apply; excluding "preventive drugs" Generic $10.00 Formulary $30.00 Non-Formulary $60.00 Specialty 20% Minimum of $150 to Maximum of $300 Employer Annual Contr. To HSA Single $1,000.00 Double $1,500.00 Family $2,000.00
Sample 1
High Deductible Health Plan/Health Savings Account. In addition to the above plans, the Committee may offer employees, as an alternative, a high-deductible health plan (“HDHP”), with the same benefits, levels of coverage, and limitations as provided in the PPO, in conjunction with portable, individual Health Savings Accounts (“HSA”1), pursuant to changes in the Internal Revenue Code made possible by the Medicare Modernization Act of 2003.
Sample 1
High Deductible Health Plan/Health Savings Account a) The Board shall implement a High Deductible Health Care Plan with a Health Savings Account feature, including the following components: In-Network Out-of Network Annual Deductible (individual/aggregate family) $2,000/$4,000 Combined deductible Co-insurance 100% 80% Out of Pocket Maximum (individual/aggregate family) $2,000/$4,000 $4,000/$8,000 Preventive Care Deductible not applicable 20% co-insurance after deductible, subject to co-insurance limits Prescription Drug Coverage Treated as any other medical expense, subject to deductible 20% co-insurance after deductible, subject to co-insurance limits b) The Board will fund twenty-five percent (25%) of the applicable HSA deductible amount. The Board’s contribution toward the HSA deductible will be deposited into the HSA accounts in two (2) equal installments, one in September and the second in January. The parties acknowledge that the Board’s contribution toward the funding of the HSA plan is not an element of the underlying insurance plan, but rather relates to the manner in which the deductible shall be funded for actively employed teachers. The Board shall have no obligation to fund any portion of the HAS deductible for retirees or other individuals upon their separation from employment.
Sample 1

Related to High Deductible Health Plan/Health Savings Account

  • Health Savings Account (HSA) is a tax-exempt trust or custodial account established exclusively for the purpose of paying qualified medical expenses of the member who is covered under a high deductible health plan. The member must be covered under the HSA plan for the months in which contributions are made. HIGH DEDUCTIBLE HEALTH PLAN (HDHP) is a health plan that satisfies certain requirements with respect to deductibles and out-of-pocket expenses. The plan cannot provide payment for any covered healthcare service until the plan year deductible is satisfied, with the exception of preventive care services. • that provides medical and surgical care for patients who have acute illnesses or injuries; and • is either listed as a hospital by the American Hospital Association (AHA) or accredited by the Joint Commission on Accreditation of Healthcare Organizations (JCAHO).

  • Health Care Savings Plan As provided in this Agreement, eligible ASF Members will participate in the health care savings plan (HCSP) established under Minnesota Statute 352.98, and as administered by the Plan Administrator. The Employer is responsible only for transferring funds, as specified in this agreement, to the Plan Administrator. Subd. 1. All ASF Members who receive severance pay as defined in Section A of this article must participate in the health care savings plan. Subd. 2. All severance pay as defined in Section B of this article shall be transferred to the severed employee's health care savings plan account. At the time of separation, if an ASF Member has an approved exception to participation in the health care savings plan account from the plan administrator, then the ASF Member shall receive this payment in one lump sum payment of cash.

  • Health Spending Account contributions by the Executive will cease on the Effective Date. The Executive may submit claims against the balance accrued to the Effective Date, until the end of the calendar year in which the Effective Date occurs.

  • Savings Plan Executive will be eligible to enroll and participate, and be immediately vested in, all Company savings and retirement plans, including any 401(k) plans, as are available from time to time to other key executive employees.

  • Health Plan An appropriately licensed entity that has entered into a contract with Subcontractor, either directly or indirectly, under which Subcontractor provides certain administrative services for Health Plan pursuant to the State Contract. For purposes of this Appendix, Health Plan refers to UnitedHealthcare Insurance Company.

  • Health Spending Account (HSA Wellness Spending Account (WSA)/Registered Retirement Savings Plan (RRSP) utilization rates;

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • What Forms of Distribution Are Available from a Xxxxxxxxx Education Savings Account Distributions may be made as a lump sum of the entire account, or distributions of a portion of the account may be made as requested.

  • Savings Plans Employee shall be entitled to participate in Employer’s 401(k) plan, or other retirement or savings plans as are made available to Employer’s other executives and officers and on the same terms which are available to Employer’s other executives and officers.

  • Retirement Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.

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