- With a High Deductible Health Plan/Health Savings Account (HDHP/HSA) your coverage consists of two components-a traditional health plan to protect you against health care expenses (HDHP) and a tax-advantaged savings vehicle (HSA).
- The HDHP does not require the selection of a Primary Care Physician and gives you the flexibility to use in-or out-of-network providers.
- The plan provides free preventive care according to guidelines while all other services, including prescriptions, are subject to the deductible and co-insurance.
- In exchange for the higher annual deductible set by the IRS, you will pay a lower monthly premium. The HDHP works hand-in-hand with a Health Savings Account (HSA), a fund earmarked for healthcare expenses, to give you more control over your healthcare dollars.
- Your HSA contributions are pre-tax, earnings are tax-deferred, and withdrawals for eligible expenses are tax-free.
- The University also contributes to your HSA which can be rolled over each year, even if you retire or leave the University.
- This Open Access Plus (OAP) plan includes prescription drug coverage provided by CVS Caremark.
- Cigna OAP gives you the flexibility to use in- or out-of-network providers and specialists without referrals. A higher level of benefits is provided when in-network providers are used, resulting in lower out-of-pocket costs for you.
- The plan provides free preventive care according to guidelines with all other services, including prescriptions, are subject to the deductible and co-insurance.
- When you select an Exclusive Provider Organization (EPO), you agree to use ONLY the plan's network of professionals and facilities.
- An EPO plan has low out-of-pocket expenses (no deductible), but does not cover the cost of services received from non-participating providers, expect in emergency situations.
- You are not required to select a Primary Care Physician, and you do not need a referral to see a specialist.
- The plan provides free preventive care according to guidelines while all services, including prescriptions, are subject to the co-insurance.