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Basic Health HDHP Option

There are two parts to the Basic Health high deductible health plan (HDHP)

  • health coverage with low premiums but a high deductible

  • a Health Savings Account (HSA) to help you pay for eligible medical expenses

Video: Basic Health at a Glance view full screen

Cost

  • Employee-only coverage - $2,000

  • Employee plus spouse, employee plus child(ren), and family - $4,000

Eligibility

  • You must be eligible for UVA’s HSA (check IRS HSA Eligibility Rules)
  • If you are covered by another healthcare plan, it must be a high deductible health plan (HDHP)
  • You cannot be covered by any part of Medicare, Medicaid, or Tricare
  • J-1 visa holders are not eligible (due to federal government regulations)

How It Works

  • Pay low monthly premiums
  • Continue to receive in-network preventive care at no cost, with no deductible to meet
  • When you do get other medical care, pay more out of pocket (because you have to meet a higher deductible before your coverage kicks in)
  • Once your deductible is met, you are responsible for 20% co-insurance
  • Ask your doctors’ offices to bill you, then use your HSA to pay those bills (rather than paying at the office)
  • Receive slightly different prescription coverage
  • Pay directly for prescription negotiated rates rather than a co-pay

With the HSA account, you will still have a Benny card that you can use to pay for qualified medical, dental, or vision expenses.

More About a Health Savings Account

  • Your HSA is a source of funds to pay both out-of-pocket costs until you meet your deductible and to help pay the 20% co-insurance after that
  • When you enroll in the Basic Health option, UVA contributes money into your HSA (as long as you are eligible)
    • $1,000 - employee only
    • $1,500 - employee plus spouse or employee plus child(ren)/family

Making/Receiving Contributions

  • Sign the HSA Authorization Form to allow UVA to make deposits into your HSA account
  • Chard Snyder (HSA administrator) may ask for additional documentation to open your account
    • You cannot open your account or earn contributions until Chard Snyder and the bank accept your documentation
    • No contributions will be accepted until the month after the bank opens your account
    • You forfeit employer contributions made before that date (including rewards and seed money contributions)
  • Salaried employees can make pre-tax contributions to the HSA (annual limits range from $3,350 to $6,750)
  • If you are 55 or older, you can make an HSA catch-up contribution of $1,000
  • UVA stops sending contributions to your account when the IRS limit has been made through your UVA payroll
    • You forfeit employer contributions scheduled for deposit after you’ve reached this limit (including rewards and seed money contributions)
    • Make sure you do not enter an employee contribution request that will put your combined annual employer and employee pre-tax contributions over the IRS limit
    • If your contributions exceed the limit, work with your accountant or tax professional to report appropriate information on your tax return
  • UVA will not make retroactive changes to excess contributions or deductions

HSA and Flexible Spending Accounts (FSA)

  • You cannot enroll in Healthcare FSA while you have an HSA
  • You can enroll in a Limited Purpose FSA (for qualified dental and vision costs only)
  • Unlike an FSA, the balance rolls forward at year’s end and is yours to keep if you leave UVA (if you use it for eligible health-related expenses)
  • Your HSA earns interest

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