are you leaving money on the table? michele bell - cigna august 22, 2012

Are You Leaving Money on the Table?

Michele Bell - CignaAugust 22, 2012

2Confidential, unpublished property of Cigna. Do not duplicate or distribute. Use and distribution limited solely to authorized personnel. © 2011 Cigna

Are you making the most of your benefits?

• Benefits are an expensive investment

• Understand your plan and its provisions

• Utilize on-line tools

• Be aware of free resources

• Ask questions

+ =Use tools and free resources

Understand your plan

Save $$


Know your Limits!!2012 H S A Contribution Limits

• Because HSAs offer special tax advantages, the IRS puts limits on the maximum amount that can be contributed to the account. These are total contributions, including any contributions you receive from Salient:

• Under age 55 and not enrolled in Medicare: (based on a 12-month period)– up to $3,100 individual coverage– up to $6,250 family coverage

• Age 55 or older:– Maximum contribution increases by $1,000 (considered a “catch-up” contribution)– up to $4,100 individual coverage– up to $7,250 family coverage

• To make the maximum contribution in a calendar year, individuals must: – Meet all requirements to be eligible for HSA contributions on January 1 – Remain qualified through December 1– If these criteria are not met, maximum contribution is prorated = 1/12 maximum

contribution for each month individual is qualified


Plan Ahead!!2013 H S A Contribution Limits

• Because HSAs offer special tax advantages, the IRS puts limits on the maximum amount that can be contributed to the account. These are total contributions, including any contributions you receive from Salient:

• Under age 55 and not enrolled in Medicare: (based on a 12-month period)– up to $3,250 individual coverage– up to $6,450 family coverage

• Age 55 or older:– Maximum contribution increases by $1,000 (considered a “catch-up” contribution)– up to $4,250 individual coverage– up to $8,250 family coverage

• To make the maximum contribution in a calendar year, individuals must: – Meet all requirements to be eligible for HSA contributions on January 1 – Remain qualified through December 1– If these criteria are not met, maximum contribution is prorated = 1/12 maximum

contribution for each month individual is qualified


Are you Maximizing your Contributions to the Cigna Choice Fund HSA?

Unscheduled Deposits to the HSA Account

Transfers from other HSA Accounts

Account HoldersEmployers

Payroll withholding of Employee HSA contributions

Employer Contributions to Employee HSA accounts

Monies sent to JPMorgan Chase from the Employer

Monies sent to JPMorgan Chase via Mail with Transaction Specific Deposit form

EFT transfer from individual’s personal account


What Can Money in the HSA be Used For?

• The IRS determines what is a “qualified health expense”

• Qualified health expenses– Expenses eligible under the medical plan – Expenses incurred after the HSA account is established– Other expenses typically covered through an FSA: Medical, pharmacy including

some over-the-counter medications*, vision and dental – A more comprehensive list is available on myCigna.com

• Use the HSA to pay for qualified health expenses for:– Employee– A spouse as recognized by the IRS– Dependents as recognized by the IRS– The HSA cannot be used for a domestic partner

• Domestic Partners and Dependents who are not recognized by the IRS– Can be covered through the HSA-qualified medical plan– However, since HSA cannot be used for these dependents, Automatic

Claim Forwarding should NOT be elected if they are covered through the HSA-qualified medical plan

*Purchases of most over-the-counter drugs and medicines on or after January 1, 2011, cannot be reimbursed without a doctor’s prescription and store receipt


Are you leaving money on the table?

We know money doesn’t grow on trees, but did you know:

•Preventive care is available in-network at 100% coverage (for children AND adults)?

•H S A funds “roll over” so they’re available when you need them – this year or next?

•You deductible and out-of-pocket expenses will be lower when you use a Cigna in-network doctor/hospital/lab

•Many drugs are available in a generic form – which in most cases is much less expensive than the brand alternative – your doctor can help you determine if a generic may be right for you and/or your family

•You have FREE access to a nurse 24/7 with one simple phone call?

•You can access discounts through Healthy Rewards?


Preventive Care is Covered at 100%Savings Tip!

• Your health plan focuses on helping to keep you well, rather than just providing coverage for covered illness or injury.

• Your plan includes coverage for wellness services for women, men and children.

• Your doctor will determine the tests that are right for you based on your age, gender and family history. Always discuss your preventive care needs with your doctor.

• Ask you doctor to code your preventive care visits as such, not a regular office visit

9Confidential, unpublished property of Cigna. Do not duplicate or distribute. Use and distribution limited solely to authorized personnel. © 2011 Cigna Confidential, unpublished property of Cigna. Do not duplicate or distribute. Use and distribution limited solely to authorized personnel. © 2010 Cigna

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Health care professionals can generate accurate, personalized pre-care estimates of a patient’s anticipated costs – to help facilitate financial discussions and set expectations.

Explanation of Estimate

Generated by health care professional/facility, and specific to their services

Based on a real-time snapshot of the patient’s coverage

Illustrates “the math” and helps educate patients about how their coverage influences what they can expect to owe

Estimated total cost for treatment

Estimated out-of-pocket costs

Estimate of what a patient will owe, based on his/her plan

Know Before You Go! Cost of Care Estimator


Explanation of Benefits (EOB)• Available in print or online at

myCigna.com• Choose if you would like EOBs mailed to

your home, or go paperless and receive email alerts after each claim is processed and posted to myCigna.com

• Clearly shows how and when claims were paid, and by which plan and/or account(s)

Quarterly Health Statement• Available online at myCigna.com• You will be alerted by email after each

statement is posted to myCigna.com • Shows year-to-date deductibles, all

claim activity and out-of-pocket expenses for that quarter

Are you confirming that you’re not paying more than you should?


Track Year-To-Date Expenses

Summarizes value ofcoverage based on cost/quality decisions

Includes year-to-dateaccumulator information, includingdeductible, out-of-pocket, etc.

Design consistent withExplanation of Estimateand Explanation ofBenefits for easycomparisons

Quarterly Health Statement


24/7 online health account management• Review personalized plan

coverage • Check available balances• Track claims and

payments• Get HSA bank account

information• Manage investment

accounts via link to JPMorgan Chase

One Website to Manage Cigna Choice Fund HSA Medical Plan and Bank Account

At-A-Glance

Account Summary


Copyright © 2007 JPMorgan Chase & Co. All rights reserved.

At-A-Glance Account Summary

Karen Smith

Karen Smith

myCigna.com Links Directly into JPMorgan Chase


“Going Green” can save you money!

• More environmentally-friendly options available for how you choose to receive information about your Cigna Choice Fund® Health Savings Account (HSA)

• You will be prompted to review and accept the "Online Service E-Sign Disclosure and Consent" when you log in to the secure HSA accountholder site for the first time after March 17th, 2012

• If you accept the terms, information will be provided to you electronically

• Want to continue to receive your information on paper?? You can certainly do that, but a paper statement fee will apply

• More information is available when you log in on-line


Account Fees

Paper Statement Fee, if activated $1.25 per statement

ATM Transactions No charge, when using a JPMorgan Chase or Washington Mutual ATM

Order of 25 Checks $10.65 per order of 25 checks

Checks Returned $20.00 per returned check

Check Stop Payment Service $20.00 per stopped check

Duplicate Check $10.00 per copy

Debit Card Transactions at Merchant No charge, without limitation

Replace Lost or Stolen Debit Card $15.00 per occurrence

Returned Deposit Check or EFT $10.00 per occurrence

Foreign Currency Conversion 2.5% of purchase amount

Account Closing $20.00 per account

Investment Account Fee $2.50 per month


Tax Form 1099-SA – HSA Distributions

• Reports calendar year distributions from the HSA– ATM withdrawals– Debit card purchases– Cash advances made at bank branches– HSA checks paid– Automatic claim payments– Mailed in late January– If no distributions during the year, 1099-SA will not be sent


Tax Form 5498-SA – HSA Contributions & Transfers

• Reports Fair Market Value (FMV) as of December 31 of the tax year

• Contributions can be made until April 15 of the next tax year, so the 5498-SA is mailed in late January and again in May

• Interest is not a contribution; it is included in the FMV

• Incoming rollovers or trustee-to-trustee transfers

• Incoming individual rollovers are reported separately on the form


What Are My HSA Savings and Investment Options?

• $2,000 minimum in HSA to invest

• Once the investment account is opened, no minimum balance applies

• Ten mutual funds from which to choose

• Investments can be allocated into one fund or multiple funds

• No minimum deposit for any fund

• Tax-free growth of interest or investment earnings

• Monthly fees apply

• Online trading – no fees apply

• Track your balance online or with convenient monthly statements


myCigna.com – One Stop for Great Information


Treatment Decision Support


24-Hour Health Information Line

• Toll free, 24 hours a day, 7 days a week

• Convenient access to registered nurses

• Health and wellness audio library

• Find a nearby provider any time - day or night– General health information– Specific health information about an illness or condition– Location of an appropriate level of care


Right Care – Right Place – Right Time

• Physician’s Office

• Convenience Care Center

• Urgent Care Facility

• Emergency Room


Convenience Care CenterSample Treatments Available

– Allergies

– Bladder infection

– Bronchitis

– Common Cold/Flu

– Ear infections

– Strep Throat

– Minor burns, rashes or skin infections

– Pink eye and styes

– Vaccines: Influenza, Hepatitis, Polio, Meningitis, Pneumonia, etc.


How Do I Find A Convenience Care Clinic Near Me?

• Log on to mycigna.com

• Click on “Find A Doctor Or Service”

• Under “Find A Place”, Click “Specialty Center”

• Then Click On:


More Ways to Save Money…

– Talk to your doctor about your benefits, and ask for the best care for the best price.

• The care decisions you make with your doctor can make a big difference in your out of pocket costs. For prescription drugs, your doctor often has more than one drug to choose from to treat your condition or illness. Though similar in effect, these drugs can vary greatly in terms of your out of pocket expenses. By sharing your specific benefits, your doctor can determine whether there are any alternatives that can get you the care you need while protecting your wallet.

– Use in-network doctors, hospitals and facilities.• Health plans negotiate rates with certain doctors, hospitals and facilities (such as

radiology centers). When you use these “in-network” providers, you can save a lot. When you don’t, you may have to pay higher deductibles or coinsurance. Additionally, you may have to pay any difference between your health plan’s maximum reimbursement amount and your doctor’s charges. It’s important to know that the “in-network” concept doesn’t just apply to doctors. So if your doctor recommends that you visit a specialist, or sends you for a test or a hospital visit, you’ll want to make sure that the facility or hospital you go to is in your health plan’s network. You can find out which doctors and facilities are in-network by calling your health plan or checking their website.


And a Few More Ways to Save…

Let Your Fingers Do The Walking (or Driving)– There may be times when you can avoid the hassle and expense of an in-person

office visit with your doctor, while still getting the support you need.

• Medication adjustments• If you are taking prescription medications and want to switch to mail order or

generic, often providers will write and fax new prescriptions directly to your pharmacy and/or mail order pharmacy without requiring you to spend the time, energy and money associated with a scheduled office visit.

• Lab follow-ups• Doctors are often willing to have a brief phone call to discuss results of common

lab tests such as a cholesterol screening. If the results are good, you may save yourself the co-pay and time. If the results require further treatment, you can then schedule an appointment as needed.


Having a Baby? Healthy Babies - First Steps to a Healthy Pregnancy

• Toll free, 24 hours a day, 7 days a week

• Features educational information from the March of Dimes

• Prenatal care information and resources

• Depression, Stress and Dental Care during pregnancy

• www.text4baby.org

• Free to all Salient Cigna members


Find Docs & Services with Cost and Quality Transparency

• Your search results are personalized according to your health plan.

• Don’t know your doctor’s specialty? No problem. myCigna.com will help you find the right doctor without confusing medical titles.

• Too many doctors to choose from? Refine your search according to the criteria that’s important to you.

• Quality distinctions and cost-efficiency ratings of doctors with every result

• Compare out-of-pocket estimates – specific to your coverage plan – for actual treatment and procedure costs. And, out-of-pocket estimates calculate your deductible, the percentage you pay (coinsurance) and any account balances on that given day.

• Estimates show both doctor and facility fees in one place, allowing you to more accurately compare total costs of treatment before choosing your doctor and where to receive care.


Free Resources to Consider

• Healthy Rewards– Provides discounts on many non-covered health related services such as:

• Massage Therapy• Health related DVDs/Videos/Books• Discounted Magazine Subscriptions• Weight Management and Nutrition• Fitness Center Discounts

• Lifestyle Management Programs– Stress Management– Tobacco Cessation– Weight Management

• On-line Health Assessment

• Limeade Challenges

"Cigna", “Cigna HealthCare”, "myCigna.com" and the "Tree of Life" logo are registered service marks of Cigna Intellectual Property, Inc., licensed for use by Cigna Corporation and its operating subsidiaries. All products and services are provided exclusively by such operating subsidiaries and not by Cigna Corporation. Such operating subsidiaries include Connecticut General Life Insurance Company (CGLIC), Cigna Health and Life Insurance Company (CHLIC), Tel-Drug, Inc. and its affiliates, Cigna Behavioral Health, Inc., Intracorp, and HMO or service company subsidiaries of Cigna Health Corporation and Cigna Dental Health, Inc. In Arizona, HMO plans are offered by Cigna HealthCare of Arizona, Inc. In California, HMO plans are offered by Cigna HealthCare of California, Inc. In Connecticut, HMO plans are offered by Cigna HealthCare of Connecticut, Inc. In North Carolina, HMO plans are offered by Cigna HealthCare of North Carolina, Inc. All other medical plans in these states are insured or administered by CGLIC or CHLIC. All models are used for illustrative purposes only.

831925 a 08/10 © 2010 Cigna Some content provided under license.

QUESTIONS?

are you leaving money on the table? michele bell - cigna august 22, 2012

Documents

maximum contribution

contribution limits

individual coverage

catchup contribution

unpublished property

total contributions

family coverage age

qualified slide