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Open Enrollment News: Consider a high-deductible health plan

Nov 19, 2019

Did you know that Pacific offers two high-deductible health plans with low or no-cost premium options?

The Pacific PPO High-Deductible and the Kaiser HMO High-Deductible medical plans provide the option of a Health Savings Account (HSA). With these plans, you pay a deductible first before the plan pays medical and prescription benefits. Preventive care is covered at 100% with no deductible and can be accessed before the deductible is satisfied.

Here are some guidelines regarding HSAs:

  • You must be enrolled in the Pacific PPO High-Deductible or Kaiser HMO High-Deductible plans to participate in an HSA and cannot be enrolled in Medicare (including Part A) or claimed as an IRS dependent by anyone.
  • If this is your first year enrolling in a high-deductible health plan, then Pacific will pre-fund three months of employer contributions into your account in early January.
  • HSA contributions, earnings and withdrawals for qualified health expenses are tax-free.
  • You can contribute to the account to help the funds grow.
  • Pacific contributes $1,250 for employee only or $2,500 for employee and one dependent or employee and family each year.
  • Unused HSA balances roll over from year to year.
  • The money is yours, the account is yours. Should you leave Pacific, you take this with you.

Visit Pacific’s benefits site to find more information on high-deductible health plans (HDHP) and HSAs and decide if they are right for you by. Resources include an HDHP and HSA Overview Presentation and an HSA Basics Presentation

The deadline to make changes to your benefits coverage is Sunday, Nov. 24.

Contact the Benefit Resource Center (1.888.336.7463 or BRCCA@usi.com) or Human Resources (209.946.2124 or employee_benefits@pacific.edu) if you have questions.

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