PPO High Deductible with HSA
The MITRE PPO High Deductible with HSA combines traditional medical coverage featuring lower premiums and higher annual deductibles with a tax-advantaged health savings account. Often called consumer driven health insurance, a PPO High Deductible with HSA plan provides greater discretion over how you use your health care benefits.
How Does the PPO High Deductible plan work?
The PPO High Deductible plan, administered by Aetna, allows you the choice of using the Aetna network of providers or using out-of-network providers. The plan covers routine preventive services (in-network only) at 100 percent without being subject to the deductible. For non-preventive services, you must first meet the deductible and then you pay a percentage of the cost of medical expenses and the plan pays a portion of the costs (this is referred to as coinsurance).Your overall expenses are limited to the coinsurance until you reach the out-of-pocket maximum limit. If you meet this limit, all covered in-network medical expenses are paid by the plan at 100 percent and all covered out-of-network medical expenses are paid by the plan at 100 percent of reasonable and customary charges (R&C).
How Does the HSA work?
The Health Savings Account is a tax-advantaged account which MITRE will help fund for you. The account may be used to pay for qualified health-related expenses (such as deductibles coinsurance and copays). The HSA allows you the choice of using the money to pay for current out-of-pocket health-related expenses or to build the account and use it for future health-related expenses.
The HSA comes with these tax advantages:
- Tax savings. Money you put into your HSA can reduce your taxable income – helping you save on taxes you pay.
- Tax-free earnings. Money you keep in your HSA earns interest tax free. Let it grow from year to year.
- Tax-free spending. Money you take from your HSA to pay for qualified health care costs is never taxed.
View a Summary Plan chart (PDF) of your plan’s key features including your in- and out-of-network deductibles, your coinsurance rates, out-of-pocket limits and more. You will need this information throughout the year to manage your health care services.