The Saver HSA option is a “pay as you go” Health Plan option, and qualifies as a High Deductible Health Plan (HDHP). It has a lower premium, a higher deductible and the opportunity to open a portable Health Savings Account
(HSA) that offers triple-tax advantages.
With this option, your annual deductible includes both medical and prescription drug expenses, and you pay all your medical and prescription drug costs in until you reach that amount (with the exception of preventive care
and certain generic preventive medications). After you meet the annual deductible, the Saver HSA option pays 80% of your eligible expenses for care received in-network. If you reach the out-of-pocket maximum, the Health
Plan will pay 100% of your medical and prescription drug costs.
To help offset the higher deductibles in the Saver HSA option, the Company will contribute $500 for Employee Only coverage or $1,000 for Employee + Dependents coverage to a Health Savings Account when you enroll in this
option and open an account. See the “Health Savings Account (HSA)” section for details. The Company contribution
will be paid in equal installments based on the number of pay periods you are a participant in the HSA. You must be a participant all 26 pay periods in order to receive the full Company contribution.
Employees who enroll in the Saver HSA are eligible to participate in a Limited Purpose Flexible Spending Account. This account is limited to paying for eligible dental and vision expenses. As with the Flexible Spending
Account, you can elect from $120 to $3,200 for your anticipated dental and/or vision expenses in 2024. Eligible expenses must be incurred by December 31, 2024 and claims must be submitted by May 31, 2025. You may carry
over up to $640 into 2025. Once you have met your deductible, it can also be used for medical and prescription drug expenses. But first, make sure you let Inspira Financial know you met your deductible. You will receive a
debit card, pre-loaded with the amount of your annual election. The same Flexible Spending Account expense deadlines apply.