Option 2 - HDHP-HSA (High-Deductible Health Plan + Health Savings Account)
With this option, employees must use Quartz network providers and meet an annual deductible. In exchange, the premium is lower, and the City funds 75% of the single or family deductible in a health savings account (HSA). At the end of the calendar year, any unspent funds in the employee's HSA are the employee's to keep and roll into future years to pay for qualified health, dental, and medical expenses. This plan requires a $1,500 single deductible or $3,000 family deductible. There are no copays or coinsurance; the employee pays for all costs until the annual deductible has been met, then pays nothing for the remainder of the year.
Quartz HDHP-HSA Benefits Summary
Employee Cost (10%)
City Cost (90%)
+$1,125 deductible contribution
$16,057.20/year + $2,250 deductible contribution
The City's deductible contributions are deposited into a health savings bank account (HSA). Employees who have an existing HSA can provide direct deposit information for their account. Those without an existing HSA will need to open an account at any bank of their choice. The City's deductible contribution is made in 2 annual payments -- the first on the January 15 payroll, and the second on the July 15 payroll.