How do account-based health plans work with insurance?
(Back to top) For HSAs, you must have High Deductible Health Plans (HDHP) that specifically comply with HSA regulations. For example, one might have a deductible that meets the HSA regulations, but also offer a prescription plan that would disqualify it. With an HDHP and CDH Account (HRA/HSA), insurance becomes more like car insurance for the employee – it is only accessed when the employee has a major medical challenge. For maintenance, most expenses come out of the employee’s healthcare account. For an HSA, if the employee maintains good health – he or she can save dollars for retirement. For expenses, the employee would use his ConnectYourCare Health Payment card. The employee would present his card at the doctor for copays, at the pharmacy for prescriptions and pay for medical or dental expenses out of his or her account. HRAs require substantiation just like FSAs, however, HSAs require no substantiation. ConnectYourCare’s healthcare payment card technology is the most advanced on
