ConnectiCare® HSA Solution
HSA Solution Components
What is the ConnectiCare HSA Solution?
The ConnectiCare HSA Solution is designed to help lower the cost of health premiums and increase your control over healthcare expenses. It includes three components: a Health Maintenance Organization (HMO) High Deductible Health Plan (HDHP), a Health Savings Account (HSA), and a comprehensive health and wellness program.
A High Deductible Health Plan (HDHP) is a health insurance plan that may offer lower premiums in exchange for a higher deductible. Your ConnectiCare HDHP is called the HMO HSA-Compatible Plan. The plan benefits include no member costs after the plan deductible is met and no referrals required for in-network specialist visits.
A tax-advantaged HSA helps you save for medical expenses incurred before the HDHP deductible is reached. You can fund your HSA with pre-tax or tax-deductible contributions, up to annual limits set by the IRS. Your employer may also contribute to your HSA. HSA balances grow tax-free. Withdrawals are also tax-free as long as the money is used for qualified medical expenses. State taxes may vary.
The ConnectiCare HSA Solution includes ConnectiCare Touchpoints, a comprehensive health and wellness program. You will have access to tools, resources, and support programs designed to help you stay healthy.
Coverage is provided by and services are administered as follows: In Connecticut: Group HMO and POS coverage, and Individual HMO is underwritten by ConnectiCare, Inc.; Individual POS is underwritten by ConnectiCare Insurance Company, Inc. In Massachusetts: Group HMO and POS coverage is underwritten by ConnectiCare of Massachusetts, Inc. FlexPOS, PPO coverage, ASO/Self funded services are administered or underwritten by ConnectiCare Insurance Company, Inc. Click here for more details about our HSA Plans.
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