The Anthem Blue Cross Blue Shield Health Savings Account (HSA) is an affordable Ohio medical insurance plan that can reduce your costs and provide comprehensive benefits for yourself and your family. The current available policies are innovative options that help you manage your expenses, reduce your taxes, take advantage of network repricing, and take control of your health care.
When compared with other comprehensive plans, it offers flexibility, competitive rates and lower out-of-pocket costs that make it an Ohio policy that should always be considered. The “high deductible health plan” (HDHP) is the insurance portion of the policy, while the savings account allows you to pay for current expenses, and deposit funds for future qualified medical expenses on a tax-free basis.
You may also leave funds in the account to be used at a later date. Many approved financial institutions (Banks are the most popular) can set up the “savings account” portion. Interest is typically paid on the “fixed” portion of the money. Additional equity options are sometimes offered, although additional financial risk is taken. Additional HSA information can be found here. Note: Any person that qualifies as a dependent on a federal tax return, is not eligible.
Policies that are considered HDHP, and meet all necessary requirements are: Bronze Pathway PPO 0%, Bronze Pathway HMO 0%, Silver Pathway PPO 10%, and Silver Pathway HMO 10%. Once the deductible is met, 90% or 100% of all covered medical expenses are paid with 0% or 10% co-insurance. The lifetime maximum has been eliminated so you will never run out of coverage.
Most individuals and families can set up this type of plan, although you can not be eligible for Medicare or listed as a dependent on another policy. We help you understand the benefits, apply for coverage and set up the “savings” portion (although that is optional). If you have an existing working relationship with a local bank that is authorized to set up the HSA account, they should be strongly considered.
100% Preventative Benefits
Also covered is adult and child preventive care coverage that is not subject to the deductible or waiting period. Routine office visits (subject to the deductible) receive “Network Repricing” which reduces out-of-pocket expenses by approximately 10%-25%. Lab test and X-ray costs are often discounted by as much as 50%-80%. MRIs also receive discounts that are often more than $1,000. Lab tests, x-rays, and inpatient procedures are also heavily discounted. Staying inside the network is important since you’ll pay much less you might expect.
Additional included coverages, that are sometimes not found in other plans, include home health care, skilled nursing and physical, occupational and speech therapy. A 24/7 NurseLine and members-only discounts on healthy lifestyle services are also provided for all Ohio Anthem policyholders. An additional benefit is that the network extends to other states so you can continue to utilize coverage. We can provide specific information regarding availability of physicians, specialists and hospitals. Or, you can request a list of providers, which we will forward to you.
We proudly represent Anthem and provide the lowest published rates they offer. Rates from each company (such as Medical Mutual, SummaCare, and UnitedHealthcare) are different in all areas of the state. So it is possible that we may recommend additional companies that have more competitive offers in your area. We’ll always give you a fair an unbiased opinion that is best suited for your circumstances.
New 2018 Plans Not Offered
Anthem will continue to offer Group and Senior products with 2018 effective dates in all 88 Ohio counties. However, private individual coverage (including HSAs) will not be available, unless you live in Pike County. And only a single catastrophic policy is offered “off-Exchange.” Thus, 18 counties may not have any carriers offering coverage. More than 10,000 existing Anthem policyholders will have to obtain benefits through a different company. HSA plans will be offered by a few other carriers.
