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, serviced through Aetna Rx
- 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
Resources
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Medical Center
- Benefits
- Backup Care
- COBRA
- Dental Plan
- Education Benefits
- Flexible Credits
- Flexible Spending Accounts
- UVA Health Plan
- Prescription Program
- UVA Health Plan Ombudsman
- Health Savings Account
- Life Events
- Paid Time Off
- Medical Center Retirement Program (MCRP)
- Investment Lineup
- 403(b) and 457 Savings Programs
- Vision Plan
- Workers Compensation
- Policies & Procedures
- Employee Self-Service
- Benefits