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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:
The
Problem:
Many
employers and employees are concerned about:
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The
cost of medical insurance
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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:
- 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.
- Reduces the insured’s exposure to Out
of Pocket Expenses.
Provides permitted supplemental insurance benefits
under the HDHP deductible.
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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. |
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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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MorganWhite Group
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