Introducing a New High-Deductible Heath Care Plan for 2015
For 2015, Drexel will add a High-Deductible Health Plan (HDHP) option to its current offerings. A HDHP combines a qualified high-deductible health plan (e.g. a qualified PPO or HMO) and a tax-advantaged health savings account (HSA) that can be used for health services — including deductibles, co-pays or coinsurance — or saved for future medical expenses. A HDHP provides medical coverage and a tax-advantaged way to build funds to cover qualified medical expenses. HDHPs are structured around lower premiums up front.
High-Deductible Health Plan Facts:
- All covered benefits (except preventive care) apply to the deductible, including prescription drugs.
- One deductible and out-of-pocket maximum apply to family coverage — the entire family deductible must be met before benefits are paid.
Health Saving Account Facts:
- Employee contributions reduce their taxable income.
- Interest earned is tax-free when funds are spent on qualified medical expenses.
- Qualified medical expenses reimbursed from the account are tax-free.
Want to know more? Learn about how certain health benefits work under an HDHP by attending an upcoming seminar:
10/21/2014: 1–2 p.m.; Liberty View, MacAlister Hall. 10/22/2014: 1–2 p.m.; Sky View, MacAlister Hall. 10/23/2014: 2–3 p.m.; Room A-8, Queen Lane Campus
10/27/2014: 1:30–2:30 p.m.; DiPalma Conference Room: 610-1, New College Building,
Center City Campus
10/28/2014: 1–2 p.m.; Bird Classroom, Academy of Natural Sciences
For questions or concerns about the High Deductible Health Plan, please call Human Resources at 215-895-2850.