Note: The HDHP applies to full-time Academic and Staff employees.
Bet you didn’t know that 83 percent of your benefits-eligible co-workers belong to one of IU’s High Deductible Health Plans (HDHP). If you’re not one of them, do you want to be? We thought so!
The key features of an HDHP are its low premium and high deductible. One offsets the other. In return for the lower premium, you must meet the deductible. To help pay this deductible the University contributes an amount on your behalf into a Health Savings Account (HSA) via payroll deduction in January. You also contribute to this account which helps build savings for future medical expenses.
“I would just like to say 'Thank You!' to everyone who works to keep the cost of our healthcare manageable each year.
I reviewed the coverage options for 2016, and for the medical and dental plans I will choose (Anthem PPO HDHP and the IU Dental Plan for employee plus children), my increase will be less than $100 a year combined. I am always shocked to hear what family members and friends pay for their employer-sponsored health insurance. It makes me thankful for the benefits I have for my children and me.
I also truly appreciate the contribution to the HSA accounts each year. These funds have helped pay for much-needed prescriptions and unexpected medical bills for my son’s broken bone and follow-up care. Without these funds, he may not have received the quality of healthcare that was needed for his injury, preventing him from playing the sports that he loves."
Angela Huff, Business Operations Manager, Franklin D. Schurz Library, IU South Bend
The HDHP might be right for you if you:
“I know a little bit more than the average bear about benefits. I came from a plan in the private sector where my cost for myself and two children was $450 a month. I felt it was a competitive plan and I was happy.
When I came to IU, I went from an Anthem PPO to an Anthem PPO. But I went from my cost of over $400 in the former plan to $100 in the same plan at IU. I’m saving more than $3,600 per year. To that, I add $2,600 the University adds to my Health Savings Account. That’s $6,200. That’s $6,200 of real, spendable money! At current tax rates, I’d have to earn $9,000 in cash in order to yield the $6,200.”
Ray Klein, Director of Human Resources, IU Southeast