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Using MWG’s GAP Plans can:
• Save the Employer money
• Provide coverage under HSA Plans
• Cover deductible and co-insurance expenses under traditional plans

 

Download forms and marketing material in the Brokers Section.
HSA Saver® is a federally registered trademark of Golden Rule Insurance Company. MorganWhite Group, Inc., and its product(s), are not affiliated with Golden Rule Insurance Company, or its HSA Saver® product, which is marketed to individuals and their families.

The HSA Saver Plan

Plan Features:

  • Guarantee issue

  • No waiting period for pre-existing conditions

  • Flexible – Allows the employer to select the benefit and the deductible amount to maximize premium savings for group medical coverage

The Problem:
Many employers and employees are concerned about:

  1. The cost of medical insurance

  2. Out of pocket medical cost now and during retirement

Health Savings Accounts (HSA) can help by providing a tax advantage way of accumulating funds to pay for medical cost. The problem is HSA's require a qualified High Deductible Health Plan (HDHP) that provides no benefits (except wellness and certain permitted insurance) underneath the high deductible. This exposes the insured to additional out of pocket expenses.

 

The Solution:
The HSA Saver does two things to solve these problems:

  1. Reduces the Cost of Medical Coverage.
    Changing from a traditional major medical plan to a two-layer approach - HDHP (High Deductible Health Plan) and the HSA Saver will normally result in a significant reduction in insurance premium cost.
  2. Reduces the insured’s exposure to Out of Pocket Expenses.
    Provides permitted supplemental insurance benefits under the HDHP deductible.

Some Important Things to Remember:

Benefits under this plan are assignable, give your insurance card to the provider and ask them to file the claim for you.

Only charges approved by the employer’s major medical plan may be considered under the HSA SAVER.

Some expenses covered by the major medical plan are not covered by the HSA SAVER Plan.

The policy does not cover 100% of your out-of-pocket cost.

For costs and complete details of the coverage, call your insurance agent or MWG Marketing.

HSA Saver Provides Permitted Coverage:

  • Group Supplemental Coverage designed to reduce the insured’s exposure to out of pocket expense risk.
  • Benefit Plans designed exclusively for those covered under a HDHP (High Deductible Health Plan) that intend to fund a Health Savings Account (HSA).

This plan has up to three benefits:

The Accident Inpatient Benefit
For medically necessary expenses due to an accident incurred while you are confined to a hospital for a period of 24 hours, this plan pays:

The amount applied to the deductible and co-insurance by your HDHP (high deductible health plan).

Accident Outpatient Benefit
For medically necessary expenses due to an accident incurred in the outpatient department of a hospital, an ambulatory surgical center, day surgery facility, MRI facility, or emergency room this plan pays:

The amount applied to the deductible and co-insurance by your HDHP (high deductible health plan).

Optional Sickness Inpatient Benefit
For medically necessary expenses due to sickness incurred while you are confined to a hospital for a period of 24 hours this plan pays:

The daily benefit you select for each day you are hospitalized due to sickness.

Deductible and Co-insurance
Some HSA Saver plan designs might require an annual deductible and co-insurance per person before certain benefits are paid.

Participation Requirement
100% of those participating in the group major medical plan must enroll in the HSA Saver Plan or the Premium Saver Plan.

 

Optional Riders (for Additional Premium)

Allied Services Rider
With the exception of professional fees for services performed in a doctor’s office or medical clinic and outpatient drugs, coverage is expanded to include charges for Outpatient Accident expenses incurred in all other outpatient facilities that are applied to the insured’s major medical plan deductible or coinsurance.

Prior Plan Deductible Credit Rider
For HSA SAVER plan designs that have a deductible and coinsurance, this rider extends the benefits under this policy by applying a credit toward the deductible applicable to this policy in the first Year.

 

 

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