Health Insurance - June 2021 to May 2022

Yeah. Yes.

Hi everyone today I'm going to go over our health

insurance options or June 2021 to May of 2022.

So I just wanted to briefly go over some of

the different vocabulary terms for health insurance.

So when you're looking at our health insurance plans, a

deductible is the amount of money that you would pay

before the insurance kicks in.

A co payment is pretty standard.

It's probably what you're used to paying.

Any time you go to a primary care physician, urgent

care, anything along those lines.

It's another predetermined amount um that you'll see on the

insurance option or coinsurance.

That is the amount, it's a percentage paid by Humana,

our insurance carrier and the percentage that's paid by you

after the deductible is met To save.

Your deductible is $2,000 and you've already paid out $2,000

throughout the plan year.

Then your coinsurance would kick in.

So say if your bill Is $100 In, your coinsurance

is a 5050 split, you would pay $50.

The insurance carrier would pay $50.

Say is you are close to reaching your annual max

out of pocket and um your very close to that

uh that number then you would only have to ever

pay your as close as you reach to your annual

max out of pocket.

This is a general reminder.

Once you select any of the insurance options, you can't

make any alterations until our next open enrollment unless there's

a qualifying life event such as a marriage divorce, birth

of a child.

Um or you lose your current health insurance plans if

you have a different carrier, The only exception to that

rule is our 41K.

Plan. You can make any changes before the beginning of

each quarter of those plans.

We are going with Humana again this year.

So there are four different insurance plans that you can

pick from.

So our first plan is $124 each paycheck.

And I just briefly wanted to go over um what

these plans look like.

So for This plan, option 14 It's a $0 deductible.

The annual max out of pocket is $6,500.

So this is the most amount of money that you

would ever have to pay um under this plan.

So if you're Bill is $7,000, you would only ever

have to pay 6500.

Um If you go to a different doctors offices, these

are your different copays.

Uh Tell medicine is a great option if you just

want to quickly get a prescription for something and you

don't feel like waiting in line at the doctors and

you have a general idea of what's wrong, like a

common cold or flu for example and you need some

antibiotics. You can do telemedicine with this plan.

Uh The emergency room Co pay is a little bit

expensive. Um A general rule of thumb is to try

to go to urgent care before you go to the

emergency room.

Um A couple of urgent cares can do x rays.

They can you know, check out if you have a

fracture, anything along those lines.

So urgent care is typically a good go to if

you know that the emergency room might be too costly.

Our next plan is our most expensive plan, it's $127

each paycheck.

Um and for this plan it's a $2,000 deductible.

The co insurance is 50 in the annual max out

of pocket is 5000.

Um So what I was explaining earlier with co insurance

to say you've already met your deductible and your bill

is $100 You would pay 50 and the insurance carrier

would pay 50%,, but if you're close to hitting your

annual max out of pocket um then you would only

have to pay up until that annual max out of

pocket Once you pay more than $5,000 in one calendar

year, the insurance carrier will cover the remainder.

These copays are a little bit better than our first

plan, but on this plan you would not know how

much you could be paying towards the hospital visit, It

would be your deductible, the $2,000 Plus 50 of the

bill. So if the bill is you know $3,000 you

would pay um 2000 Plus half of that, so it

would be 2500 For the remaining $1,000 bill.

Our third plan is, in my opinion, probably our best

plan option that we have.

It's $113 each paycheck.

Um for this plan the deductible is a little bit

more. It's $3,000.

Uh still a 50 coinsurance In a 6000 annual max

out of pocket.

But with this plan, the physician services are the co

pays are relatively um Cost effective in the emergency room

copay. Uh it's the lowest option that we have.

It's $350 if you have to go to the emergency

room. The only um new option on this plan is

the fact that any prescription drugs we'll have a deductible

um that you have to meet before the prescription levels

kick in.

So if you have to have a lot of different

prescriptions. One great option that you could look into first

is the app called Good Rx.

That app.

We're sorry.

It's a website that you can go to and you

can search the name of your prescription and it will

tell you the lowest cost prescription and where it's available.

So it will tell you um maybe Walgreens is a

better price to go to compared to public anything along

those lines.

And then our fourth insurance option with Humana is uh

$71 a paycheck.

It's our high deductible plan.

So basically with this plan, the deductibles $4,000.

But you would not have any copays.

So anytime you have a bill, say if you go

to urgent care and your bill is Um $150 in

total, You would be paying all 100 50 if if

you haven't met your calendar, your deductible yet.

And with this plan because it's a high deductible plan,

it also allows you to have an Hs.

A. H.

S. A.

Stands for health savings account.

It allows you to um put aside money into a

savings account each paycheck, which um is, there's no tax

on the money that you put into an H.

S. A.

So basically you get a debit card if you decide

to enroll in this, which is very helpful because if

you do go to a chiropractor for example, you can

use that debit card to pay for your chiropractic visit.

So I had this plan three years ago and I

I didn't fully utilize my H.

S. A.

I only put $10 in each paycheck but it was

still helpful um because I had I went to the

chiropractor frequently and I was able to pay my chiropractor

bills with that debit card.

Uh huh.

If you sign up for any of the Humana options,

there are two different humanity apps.

The first app is called My Humana.

And basically my Humana is an app that will allow

you to view your health insurance cards.

It will show you how much money you put towards

your deductible, it will tell you how much money you

have left until you reach your annual max out of

pocket. Um So it's just an information tool.

The second Humana app is called Go 3 65.

This app I took a video of my my app

um mm Sorry about that.

Um Hopefully it will let me click on this.

Sorry for some reason it's not playing the video.

Um But basically um Mhm.

This app allows you to earn points for different fitness

activities that you do.

So you can earn points by doing things such as

walking, uh going to the gym, doing a dental exam,

a vision exam, um Taking weekly weekly quizzes.

Anything along those lines will earn you points.

Um You can log into this video to see what

my app looks like and hopefully I will let you

play the video that I took.

But um basically if you wear a smart watch it

will track how many steps you take during the day

and you can earn points just from walking.

Um You can get gift cards for your points and

then once you reach 5000 points, your health insurance costs

will lower.

Which is very exciting.

Um And then in this picture um this is a

a group event that I was showing how you can

sign up for.

Um So it's called the May mary mary month.

Um And you can earn points from competing in teams

on getting the most steps in throughout the day with

any of the Humana plans.

It comes with an E.

A. P.

An employee assistant program.

This program is great um because it is completely anonymous,

it's um something that you can call into or you

can log into the Humana website and it could help

you with any of these following day to day issues

that you might be having in your life.

Um And as I mentioned, it is anonymous.

So um as the employer we would have no idea

to know who is um if anyone using this program.

Uh huh.

Um Now our next insurance option that we have available

is our limited health insurance.

In the past we've used a company called Redirect Health,

but unfortunately redirect health is too costly for us to

continue. Um That plan, the plan costs basically doubled um

this year.

So we found a different insurance carrier called apex.

If you aren't familiar with limited health insurance, please come

to me with any questions because I was signed up

for this plan last year.

Um and I think this is a great plan option.

Um The only people that this plan might not be

good for is if you know you're prone to accidents

and you might, you know have frequent hospital stays.

Um If you have any chronic diseases or if you

need any specialty types of drugs um for hospital stays,

one of our plans does slightly reimburse for hospital stays,

so I'll go over that momentarily.

But this plan is great if you need any regular,

everyday health care.

So if you want your primary care visits, urgent care

um and preventative care.

So this plan, if that is typically what you use

your health insurance for.

These plan options might be great for you.

Um So we have three different plans that we're offering

through apex.

I apologize in advance because my screen is going to

be very small but um you'll be able to see

this in greater detail in our insurance packet.

So we have three different plans.

Please ignore the 1st 1.

so our first plan is $19 a paycheck, Then $30

a paycheck and $53 a paycheck.

All three of these plans 100 cover any preventative care

that you might need throughout the year.

Um tele medicine.

This is a big one um With humana you do

have to pay for your telemedicine visit but with these

plans there is no copay and you can um log

into the telemedicine um as many times throughout the calendar

year as you need to.

If you are not familiar with telemedicine, it's a great

alternative compared to going and sitting in a weight room

at a doctor's office.

So if you are prone to, you know, flu season,

um you, this might be great.

Health Insurance - June 2021 to May 2022

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