Do you have questions about the different type of health care plans? What about in vs. out-of network coverage? This guide will help answer your questions and make you a better health care consumer.
The most cost-effective way to keep health care costs in check is to make better decisions about the way you live, including the way you eat and exercise. Here are some ideas on how you can make your health care dollars go a little farther.
Health savings accounts (HSAs) are a great way to save money and efficiently pay for medical expenses. HSAs are tax-advantaged savings accounts that accompany high deductible health plans (HDHPs).
Learn more about the benefits of saving in a Health Savings Account.
Every year, the IRS sets contribution limits for HSA plans. For 2018, those limits are $3,450 for individuals and $6,900 for families.
Here is more information about HSA and HDHP limits for 2018.
In early 2018, many employees will receive two important tax forms. In general, you will receive a Form 1095-B if you were enrolled in your employer’s health plan in 2017. You will receive Form 1095-C if you were a full-time employee of a large employer at any time during 2017.
It is important that you save these forms, because they provide key information about your health coverage and can help you when filling out your tax return.
This chart provides information for 2017 income level qualifications for individuals & family to be eligible for tax credits, subsidies and Medicaid for plans starting in 2018.
Open Enrollment begins November 1st to December 15th to be effective 1/1/2018.
December 15th to January 15th to be effective 2/1/2018
Good to Know
They’re the same: Generic drugs are exact copies of brand-name drugs and must meet all the same stringent FDA standards. Although they may look or taste different, the main reason brand-name drugs cost more than generics is due to expensive marketing.
They save you money: Generic drugs are often 80 percent less expensive than brand-name medication. The next time you need a prescription, ask if a generic equivalent is available. Or, if your doctor does not specifically tell you to only take the brand-name drug, ask your pharmacist to fill your prescription with the generic version, if one is available. Remember, choosing generics results in substantial savings.
Track Your Medicines
Keep a list of all medicines you take, including prescriptions, over-the-counter drugs, and vitamins and herbal supplements. Bring this list with you whenever you visit a doctor or pick up a prescription. This can reduce medical mistakes and improve the quality, safety and effectiveness of your health care.
Take Your Medications Safely
Medicine is prescribed to help you. But it can hurt you if you take too much or mix medicines that shouldn’t go together. For every medication you are prescribed:
This blog is filled with information to help you become a better healthcare consumer. Search by category to help you better understand and make the most of your benefits programs. Search by category.
Employee Online Tools.
Is your employer a client of INW? HR Connection is a streamlined, online, always accessible way to for you to learn and enroll in your benefit plans.
Don't have access? Contact your HR representative and ask them to add HR Connection to your benefit platform.