Providence Engineering - 2023 Benefits Guide

WHICH MEDICAL INSURANCE PLAN IS
RIGHT FOR YOU?
Choosing the right medical plan is an important decision. Take the
time to learn about your options to ensure you select the right plan
for you and your family.
THINGS TO CONSIDER
1. Do you prefer to pay more for medical insurance out of your
paycheck, but less when you need care?
2. Or, do you prefer to pay less out of your paycheck, but more
when you need care?
3. What planned medical services do you expect to need in the
upcoming year?
4. Are you able to budget for your deductible by setting aside
pre-tax dollars from your paycheck in an HSA or FSA?
5. Do you or any of your covered family members take
prescription medications on a regular basis?
Here is a short video summarizing the differences in the plans
available:
HDHP VS PPO
Below is an example of how each plan would pay if you
were to have a large claim:
HDHP VS Premier Blue
Cost Example
Example: Claims Totaling $10,000
Plan
Annual Premium
Cost
Deductible Copay 80% Coinsurance
HSA Company
Contribution
Total Annual
Cost
Premier Blue 759.60 $1,200 $50 $3,250 - 5,259.60
Blue Saver 450.96 $2,000 - $2,400 $600 4,250.96
Assumptions: Employee Only Coverage & Claim is In-Network
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