Carey Williams

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Group Medical Plans

Preferred Provider Organization (PPO)

Provides employees with a broad choice in hospitals and health care professionals through a nationwide network. Savings are greatest when employees and their covered dependents get in-network care. No referrals are necessary. The benefits include:

 

  • Quality and convenience
  • Customizable plan designs and funding options
  • No primary care physician (PCP) requirement
  • No referral requirement
  • Wellness features and disease management programs
  • Simplified administration and hassle-free service



Open Access

Open Access is a medical product solution for employers who desire choice and convenience, along with cost control. An OAP provides large discounts and access to a network of health care professionals. Employees and their covered dependents have the option of choosing a primary care physician to help guide their care. No referralsare needed. The benefits include:

  • Competitive network discounts
  • Flexible plan designs and funding options
  • Cost control through customizable plan designs, which encourage the use of in-network health care professionals
  • Primary care physician (PCP) use encouraged
  • No referral requirement
  • Simplified administration and hassle-free service



Health Maintenance Organization (HMO)

An HMO is a physician directed, participating health care professional-only plan, for employers concerned about costs. The benefits include:

  • Care directed by primary care physicians (PCPs) that can result in earlier intervention and better, more cost-effective outcomes
  • Referral requirement to see specialists
  • Wellness features and disease management programs



Health Reimbursement Account (HRA)

An Employer funded account that employees use to pay health care costs. The HRA pays 100% of eligible expenses until it is exhausted.  HRA dollars used to pay for eligible medical expenses can be applied to the employees annual deductible.  Some employers allow HRA dollars to roll over from year to year.  An HRA is typically combined wtih a high deductible health plan.
 
A Health Reimbursement Arrangement (HRA) is an agreement you make to reimburse employees for a certain amount of medical expenses incurred during the year. HRAs are entirely funded by you and are not portable.
 
The advantages of HRAs are that they:

  • Can be used to reimburse employees for a wide range of medical expenses
  • Provide tax benefits to you
  • Are available with a broad variety of plan designs

 

Health Savings Account (HSA)

A tax-advantaged savings account used to pay for quaified health care costs.  The account may be funded by the employee, the employer or both.  A oerson must be covered by a qualified High Deductible Health Plan (HDHP) to contribute to an HSA.  Unused funds roll over from year to year.
 
An HSA plan can make health coverage more affordable. It includes two components — a high-deductible health plan and a tax-favored HSA.

HSAs offer a convenient way to save — and invest — for future medical expense needs. You and your employees receive significant financial advantages:

  • HSAs belong to your employees and are portable
  • You and your employees both may contribute to their HSAs tax-free up to certain limits
  • HSA funds can be used to pay for qualified medical expenses now and in the future
  • Unused funds can be invested and rolled over from year to year, even during retirement
  • All contributions and interest earnings, and withdrawals used for qualified medical expenses, are free from income taxes — a triple tax benefit
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