Consumer-driven healthcare plans (CDHP) offer an alternative way to help both employers and employees manage healthcare costs. These plans couple high-deductible healthcare plans with tax-advantaged spending accounts. By encouraging employees to be more engaged and informed in their healthcare choices, CDHPs are an effective and value-added benefits offering.
Medical Mutual offers many consumer-savings vehicles such as health savings accounts (HSAs), flexible spending accounts (FSAs) and health reimbursement arrangements (HRAs). These tax-advantaged consumer accounts are paired with high-deductible health plans and help employees pay for qualified medical expenses such as doctors’ visits and copays. Both employers and employees can make pre-tax contributions to these accounts.
Our integrated solution helps you efficiently manage both your group’s healthcare benefits and consumer-driven healthcare plan administration with one company, eliminating the inconvenience of dealing with multiple platform partners.
Advantages for Employers
We partner with you to design and implement the benefits plan that is right for you.
- Complete employer administration – we provide online access so you can manage enrollment, update contributions, verify participation, manage reporting and more.
- Simplified HSA employee enrollment process – once your employees enroll in their health plan, they can easily enroll in their HSA online through My Health Plan, our secure member website.
- FSA bundle option – offer the most comprehensive benefit package for your employees by adding our limited-purpose flexible spending account (LPFSA) to your healthcare benefits and HSA. A limited-purpose FSA allows employees to use funds for eligible dental and vision expenses, instead of using HSA dollars. Other FSA options include dependent care (DCA), parking (PKG) and transit (TRN).
- Debit cards for easy access – employees can use their debit card at the point of service, online or over the phone when paying for qualified expenses.
Advantages for Employees
- Access 24/7 – employees have 24/7 online access to their health benefits through My Health Plan, where they can track account information, access a wealth of resources and member discounts, pay for qualified medical expenses, reissue a debit card and more. We also offer on-the-go access with Account Link, our mobile app.
- Local customer support – employees can get help from our Ohio-based Customer Care team trained to answer product questions with just one call.
Health Savings Accounts (HSAs)
Medical Mutual’s HSAs are our first tax-advantaged option. They are available with our qualified high-deductible health plans (QHDHP) and come with several easy enrollment options. Plus, our HSA has a low, $1,000 balance investment threshold, giving your employees the opportunity to earn more by investing their funds.
Learn more about Medical Mutual’s HSAs.
Flexible Spending Accounts (FSAs)
Your employees benefit by using pre-tax dollars to pay out-of-pocket expenses for eligible medical, dental, vision, dependent care, parking and transit expenses.
Learn more about Medical Mutual FSAs.
Health Reimbursement Arrangements (HRAs)
HRAs are an excellent way for your company to take advantage of tax-saving benefits. Offering an HRA gives your employees access to an account funded with employer dollars. These dollars are then used to offset eligible expenses that would normally be the employee’s responsibility.
Learn more about Medical Mutual's standard HRA and individual coverage HRA options.