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Possible Tax Break With PPO 3500 (HSA compatible) |
As prices for health care services climb, and with some people not needing to utilize the coverage they are paying for, an option may be a health care plan associated with a Health Savings Account, such as the PPO 3500 from Blue Cross of California.
A person can elect to join in a Health Saving Account through JP Morgan Bank at the time they enroll in the PPO 3500 and possibly enjoy tax savings as well. Money from the HAS is available to pay covered expenses not covered by the plan.
Blue Cross of California negotiates with health care providers such as doctors, hospitals, pharmacies and professional service providers to obtain the lowest possible prices for health care services. Network health care providers will accept the negotiated fee as payment in full. Non-network facilities will generally cost more than the negotiated fee.
For single participants there is an annual deductible of $3,500. For families it is $7,500 with the combined costs of medical and prescriptions for all plan members included in that amount. Participating and non-participating provider covered expenses are included in the annual maximum out-of-pocket expenses. For a single member that will be $5,000 and $10,000 for families, again combining medical and prescription costs for all member of the family plan to reach the maximum.
Once the annual deductible is paid, there is no cost to the member for doctor’s office visits or for professional services such as diagnostic lab tests, X-ray or others ordered by a plan physician. Hospital services, whether inpatient or outpatient, also incur no cost to the member after the annual deductible is paid. Maternity care is not covered under the PPO 3500 plan.
Preventive care is available through HealthyCheck for a $25 copay for a basic screening and a $75 copay for premium screening. Routine mammogram, PSA and Pap ordered by a physician, as well as Well Child care will cost the member nothing once the deductible is met.
Prescription drugs can be obtained for a $10 copay for generic drugs and a $30 copay for name brand drugs after the annual deductible. If a member chooses a name brand drug when a generic equivalent is available, even the physician writes dispense as written or do not substitute on the prescription, the member will be responsible for the $10 generic copay as well as the difference in the cost of the generic drug and the name brand drug. For self-administered injectable drugs, except insulin, there is a cost of 30 percent of the negotiated fee.
Learn more at: www.baahealth.com
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