91ÌÒÉ«

A HDHP is a type of health insurance plan that offers lower premiums and higher deductibles compared to the 91ÌÒÉ« Choice Plan and 91ÌÒÉ« Select Plan.

With the HDHP, you will pay less out of your paycheck for insurance premiums each month, but you will pay more until you meet your deductible when receiving medical care.

You will have to meet a higher deductible before your insurance begins to pay; this applies to prescription drugs as well.

Health Savings Accounts

Health Savings Account (HSA) Eligibility (PDF)

Qualified Health Savings Account (HSA) Expenses (PDF)

Know Your Benefits - What is a Limited Purpose FSA (LPFSA)? (PDF)

Video:

Know your Benefits - LPFSA (PDF)

HSA vs FSA: What is the Difference?

- Video

TIAA HSA Investment Menu With Expense Ratios

Is the 91ÌÒÉ« Consumer Plan (HDHP) right for you?

Enrolling in the 91ÌÒÉ« Consumer Plan (HDHP) offers lower premiums and the ability to use pre-tax dollars for out-of-pocket expenses. However, these benefits come with a trade-off: a higher deductible and increased out-of-pocket costs. While HDHPs are becoming more popular, they may not be the best choice for everyone. If you’re considering the 91ÌÒÉ« Consumer Plan (HDHP) keep these tips in mind to help you and your family make an informed decision.

Here are some specific tips to help you make an informed decision about enrolling in the 91ÌÒÉ« Consumer Plan (HDHP):

1. Assess Your Health Needs: Consider how often you and your family need medical care. If you rarely visit the doctor, the 91ÌÒÉ« Consumer Plan (HDHP) may save you money with its lower premiums.
2. Evaluate Financial Readiness: Ensure you can afford the higher deductible and out-of-pocket costs. It’s crucial to have enough savings to cover these expenses if needed.
3. Utilize the HSA spending account: If you enroll in the 91ÌÒÉ« Consumer Plan (HDHP), you can open an HSA to save pre-tax dollars for medical expenses. This can help offset the higher out-of-pocket costs. 91ÌÒÉ« will contribute $200 if you are enrolled in employee only coverage and $400 if you are enrolled in family coverage to your HSA for coverage beginning January 1, 2025.
4. Compare Total Costs: Look beyond the premiums. Calculate the total potential costs, including deductibles, co-pays, and out-of-pocket maximums, to see if the 91ÌÒÉ« Consumer Plan (HDHP) is truly cost-effective for you.
5. Medical Plan Comparison Tool: Before enrolling in a medical plan, we highly recommend using the medical plan comparison tool to ensure you choose the best plan for your needs. Visit www.southalabama.edu/jagsopenenrollment during Open Enrollment (October 14 - 25) to utilize the comparison tool. The tool will ask a few questions about your and your family’s medical and pharmacy usage, as well as any upcoming medical procedures. Based on your answers, it will recommend the most suitable plan for you and your family. 

The 91ÌÒÉ« Choice Plan and 91ÌÒÉ« Select Plan will still be available.

More information will be provided beginning in July through Open Enrollment to help you make the best choice for you and your family.

Open Enrollment will be earlier and for a shorter period this year.

SAVE THE DATES:

Open Enrollment Is October 14 To October 25!