Medical Plan Options and Health Savings Account
You are first eligible for the medical plan on the first of the month following one full calendar month of employment. After you enroll, you may not make a change to your elections until the next annual enrollment period unless you have a qualified change in family status (see the employee handbook for more information on life status changes).
You have three medical plan options available to choose from through Aetna.
The Aetna PPO Plan is a traditional co-pay style medical plan with hospital services subject to a deductible and cost sharing. Watch a short video (5 minutes) describing the PPO Plan for 2017.
The Aetna Consumer Choice (HSA) Plan is a plan that couples a high deductible health plan with a tax advantaged Health Savings Account (see below for more information on the Health Savings Account). Watch a short video (10 minutes) describing the HSA Plan for 2017.
The Aetna Whole Health (ACO) Plan provides a lower cost option than the PPO, but requires use of a more limited provider network in order to access the highest level of benefit. Watch a short video (8 minutes) describing the ACO plan for 2017.
Questions for Aetna? Call the concierge services line listed on the back of your card 1-855-586-6963.
Medical Plan Summaries:
- Aetna PPO Plan Summary
- Aetna Whole Health (ACO) Plan Summary
- Aetna Whole Health Member brochure
- Aetna Consumer Choice (HSA) Plan Summary
- Side by side quick plan comparison
- Aetna Preventive Medicine List for the Aetna Consumer Choice (HSA) Plan
(paid at 100% – not subject to the deductible)
Other Aetna Medical Plan Information
- Whole Health Provider Summary
- Whole Health Full Provider Directory (pdf) most current listing is found online
- Instructions on how to find if a doctor is in Aetna’s PPO/HSA or Whole Health (ACO) network
- Rx Pre-certification and Step Therapy Overview
- RX listing needing Pre-cert or Step Therapy
- Prescription Drug Listing (4-tier)
- Your Personalized Aetna Navigator Account
- Aetna Required Information on your Medical Plan
- Aetna Concierge Service
- Aetna’s Mobile App
- Aetna’s Discount Program
A Health Savings Account, or HSA for short, is a tax advantaged account that both Bates and you can contribute to and it is owned by you. You can use funds from your HSA to pay for current medical expenses (including dental and vision) for yourself and your tax dependents or save for future healthcare expenses.
Unlike our Healthcare Reimbursement Account option any contributions remaining in your HSA roll over from year to year and the account is yours when you leave Bates. Watch this short video for an introduction to an HSA.
Health Savings Accounts Reference Materials:
- Health Savings Account General FAQ
- Health Savings Account Quick Reference Guide
- Health Savings Accounts Frequently Asked Questions (4 Pages)
- Health Savings Account 2017 Employee Guide (19 pages)
- HSA Account Fee Schedule
- Health Savings Account Payroll Deduction Form
Investing funds in your Health Savings Account
Once you feel you have enough funds in your Health Savings Account to cover your medical needs you can begin investing in Mutual Funds for longer term growth (minimum balance of $1,000 in your Health Savings Account is required before you can invest in Mutual funds). There is a $2.00 a month Investment Account Maintenance fee.
With an investment account you have:
- Access to a diversified group of mutual funds, each professionally managed by an investment adviser
- HSA Investment Fund Performance as of 06-30-16
- integration with Morningstar research data
- 403(b)-like investment capabilities with no transaction fees for trading
- Tax-free growth
Tour the “Financial Center” section of your Health Savings Account with PayFlex for more information.