Health Savings Account (HSA) An HSA is a tax-advantaged savings account offered in combination with a high deductible health plan. The account can be funded by your employer and you with pre-tax dollars from your paychecks. It comes with a debit card that can be used to pay qualified out-of-pocket medical expenses, such as those applied to your health plan deductible and coinsurance, as well as dental and vision expenses. High-Deductible Health Plan (HDHP) A health insurance plan with lower premiums and a higher deductible than a traditional health plan. You pay 100% of the cost of your non-preventive health care and prescription drugs until you meet your deductible. Once you meet your deductible, the plan coinsurance is applied. Preferred Brand Drugs Medications for which generic alternatives are not available and cost less than non-preferred brand drugs. Preventive Care Routine health care services to prevent illnesses, disease, or other health problems. It includes most vaccines, screenings and annual check-ups and is typically covered at 100% under health plans. Non-Preferred Brand Drugs Medications which cost more because there are alternative, lower cost generic or brand name drugs available. Out-of-Pocket Maximum A specific limit for the total amount you will pay for covered health costs during the plan year. This includes amounts applied as copays, deductible and coinsurance. If you meet the out-of- pocket maximum, your health plan will pay 100% of your covered health care costs for the rest of the year. Specialty Drugs High-cost medications used to treat complex, chronic conditions such as cancer, rheumatoid arthritis and multiple sclerosis.
Throughout the Benefits Guide, the orange hyperlinks will take you back to the glossary for definitions. The blue hyperlinks will take you to documents and external websites outside of this guide.
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