HDHP/HSA Plan Designs
through Preferred Health Systems of Kansas, Inc.
Preferred Health Systems Insurance Company is offering a High Deductible Health Plan (HDHP)/Health Savings Account (HSA) benefit plan through the Preferred Health Care network of Contracting Providers or its affiliated contracting networks. A Covered Person may utilize any provider. If a Contracting Provider is utilizes, the Covered Person will receive the Network level of benefits. If the Covered Person utilizes a Non-Contracting provider, the Covered Person will receive the Non-Network level of benefits. The Covered Person will also be responsible for the difference between the actual billed charges of a Non-Contracting Provider and the PHSIC allowed amount(s)
Pre-existing Condition A pre-existing condition provision may apply if medical services are received during the first 90 days after the effective date of coverage and medical advice, care or treatment, or diagnosis was made or received for the same condition 90 days prior to the effective date of coverage. The provision will not apply if you and/or your dependent(s) have been covered under another health insurance policy within 63 days prior to the effective date of this coverage, without a gap in such coverage. This provision will not apply to pregnancy or to a child who is enrolled in the plan within 30 days after birth, adoption, or placement for adoption. This health plan matches a high deductible with lower monthly rates; it is tied to a Health Savings Account.
HSA - Health Savings Account Unlike Flexible Spending Accounts, HSAs allow the account holder to roll funds over from year to year without penalty. The account holder has control of 100 percent of the deposits from the first day. The only stipulation is that account funds, which are pre-tax dollars, be used for approved healthcare costs. If an individual elects to withdraw funds for another purpose, that amount is then subject to taxes and withdrawal penalties. Individuals must be enrolled in a HDHP insurance plan to benefit from the HSA.