The HealthSavings CDHP is a consumer driven health plan (CDHP) with a Health Savings Account (HSA). It uses the same provider networks and discounted rates as the PPOs.
You control and manage more of your healthcare dollars. It has a higher deductible and lower monthly premiums. Instead of copays, you pay the full, discounted medical or prescription drug cost for any claims that you incur until you reach your deductible. You pay coinsurance after you meet your deductible until you reach your maximum out of pocket. Then you are covered 100 percent.
To go with your CDHP, you also have a Health Savings Account (HSA), a tax-free savings account that you can use to pay for your deductible and coinsurance expenses.
For state and higher education employees, if you participate in the Partnership Promise, the state will put money into your HSA in 2017: $500/individual and $1,000/family. If your coverage effective date is after September 1, 2016, the state contribution for 2016 is not available.
Local government and local education employees should check with your agency benefits coordinator to see if your agency will provide funding for your HSA.