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Human Resources

How the HSA Works

Print friendly Modified January 8, 2014
Your Coverage Options

If you enroll in the HSA Open Access POS healthcare plan, you have the opportunity to open a Health Savings Account (HSA), a tax-free account that you can use to pay for eligible healthcare expenses now and in the future. And, to help you get started saving, USG will match your contributions to your HSA up to $375 for individual coverage or $750 for family coverage.You can use this account to pay for eligible out-of-pocket healthcare expenses including hospitalization, physician care, prescription drugs, dental, and vision. You can also contribute additional tax-free funds, up to IRS limits, to save for future healthcare needs or to protect yourself from the unexpected.

How does the HSA work with the HSA Open Access POS plan to help me pay for care during the year?

YOU PAY YOU AND USG PAY USG PAYS
1. Annual deductible

You pay the full cost of covered healthcare services and prescription drugs until you reach the deductible.

Exception: In-network preventive care and certain preventive drugs are 100% covered and are not subject to the deductible

arrow 2. Coinsurance

Once you reach the deductible, you and USG share the cost of covered healthcare and prescription drug expenses.

For covered in-network services, USG pays 85% and you pay 15% coinsurance.

arrow 3. Annual out-of-pocket maximum

This is the most you would have to pay in a year for covered healthcare and prescription drug costs.

If you reach the out-of-pocket maximum, USG pays 100% of eligible expenses for the rest of the year.

Health Savings Account

You can use the money in your HSA to help pay the deductible and coinsurance. Or you can pay for your eligible out-of-pocket expenses now and save your HSA money for future eligible expenses. USG will match your contributions to your HSA up to $375 for individual coverage or $750 for family coverage.