Montgomery & Associates - Savings Examples - Atlanta Health Insurance Agent

Montgomery & Associates Georgia's Health Insurance Specialists

sAVINGS EXAMPLES

Family Example

Individual Example

Family Example

	Typical Family of Four Plan	Health Savings Plan - Family
Deductible (3 per family)	$1000 per person $3,000 total	$5,100 family deductible
Max out of pocket (3 per family)or 80/20 Coinsurance	$2,000 per person $6,000 total	100%
Premium Paid	$7,296/ year ($608/month)	$5,080/year ($420 per month)
$1,500 Claim	$1,000 for deductibles $100 Coinsurance 3 x $40 Office Visit copay	$1,500 for medical expenses
Out-of-Pocket Expenses Subtotal	=$1,220	=$1,500
Tax Savings on Health Savings Deposits	$0	($1,275)
Expenses (Yearly premium + Out of Pocket - Tax Savings)	$7,516	$6,600
Total net Savings with Health Savings Plan		=$916

* Assumes $5,100 deposit in Health Savings at 25% tax bracket
This sample is for comparison purposes only and your individual claims experience may vary.
Your agent can provide you with more information.

Healthy Case - zero expenses

	Typical Family of Four Plan	Health Savings Plan - Family
Deductible (3 per family)	$1000 per person $3,000 total	$5,100 family deductible
Max out of pocket (3 per family) or 80/20 Coinsurance	$2,000 per person $6,000 total	100%
Premium Paid	$7,296/ year ($608/month)	$5,080/year ($420 per month)
No visits to the doctor this year.	$0	$0
Out-of-Pocket Expenses Subtotal	0	0
Tax Savings on Health Savings Deposits	$0	($1,275)
Expenses (Yearly premium + Out of Pocket - Tax Savings)	$7,296	$5,080
Total net Savings with Health Savings Plan		=$2,216

Unhealthy Case - $6,000 in expenses

	Typical Family of Four Plan	Health Savings Plan - Family
Deductible (3 per family)	$1000 per person $3,000 total	$5,100 family deductible
Max out of pocket (3 per family) or 80/20 Coinsurance	$2,000 per person $6,000 total	100%
Premium Paid	$7,296/ year ($608/month)	$5,080/year ($420 per month)
Your share	$2,000 in deductibles $800 in coinsurance 5 x $40 Office Visit copay	$5,100 in deductibles $0 in coinsurance
Out-of-Pocket Expenses Subtotal	=$3,000	=$5,100
Tax Savings on Health Savings Deposits	$0	($1,275)
Expenses (Yearly premium + Out of Pocket - Tax Savings)	$10,296	$10,180
Total net Savings with Health Savings Plan		=$1,391

* Assumes $5,100 deposit in Health Savings at 25% tax bracket
This sample is for comparison purposes only and your individual claims experience may vary.
Factors effecting premium are age, health history and tobacco use.
Your agent can provide you with more information.

Catastrophic Case - $500,000 in expenses

	Typical Family of Four Plan	Health Savings Plan - Family
Deductible (3 per family)	$1000 per person $3,000 total	$5,100 family deductible
Max out of pocket (3 per family) or 80/20 Coinsurance	$2,000 per person $6,000 total	100%
Premium Paid	$7,296/ year ($608/month)	$5,080/year ($420 per month)
Your share	$2,000 in deductibles $4,000 in coinsurance 20 x $40 Office Visit copay	$5,100 in deductibles $0 in coinsurance
Out-of-Pocket Expenses Subtotal	=$6,800	=$5,080
Tax Savings on Health Savings Deposits	$0	($1,275)
Expenses (Yearly premium + Out of Pocket - Tax Savings)	$14,096	$8,905
Total net Savings with Health Savings Plan		=$5,191

Individual Example

	Individual	Health Savings Plan - Indiviudal
Deductible	$2,000 total	$2,000 deductible
Max out of pocket or 80/20 Coinsurance	$2,000	100%
Premium Paid	$2,400/ year ($200/month)	$1,368/year ($114 per month)
$2,500 Claim	$2,000 in deductibles $200 in coinsurance $200 in co-pays (5 visits)	$2,000 for medical expenses
Out-of-Pocket Expenses Subtotal	=$2,400	=$2,000
Tax Savings on Health Savings Deposits	$0	($480)*
Total Expenses (yearly Premium + Expenses - Tax savings)	$4,400	$2,888
Total net Savings with Health Savings Plan	$0	=$1,512

* Assumes $2,000 deposit in Health Savings at 24% tax bracket
This sample is for comparison purposes only and your individual claims experience may vary.
Your agent can provide you with more information.

Healthy Case - zero expenses

	Individual	Health Savings Plan - Family
Deductible	$2000 deductible	$2,000 deductible
Max out of pocket or 80/20 Coinsurance	$2,000	100%
Premium Paid	$1,740/ year ($140/month)	$1,368/year ($114 per month)
Expenses	$0	$0
Out-of-Pocket Expenses Subtotal	0	0
Tax Savings on Health Savings Deposits	$0	($500)*
Total Expenses (yearly Premium + Expenses - Tax savings)	$1,740	$868
Total net Savings with Health Savings Plan		=$872

* Assumes $2,000 deposit in Health Savings at 25% tax bracket
This sample is for comparison purposes only and your individual claims experience may vary.
Your agent can provide you with more information.

Unhealthy Case - $3,000 in expenses

	Individual	Health Savings Plan - Family
Deductible	$2000 deductible	$2,000 deductible
Max out of pocket or 80/20 Coinsurance	$2,000	100%
Premium Paid	$1,740/ year ($140/month)	$1,368/year ($114 per month)
Expenses	$2,000 deductible $200 coinsurance 4 x $40 office visit copay	$2,000 deductible $0 coinsurance $0 copay
Out-of-Pocket Expenses Subtotal	=$2,360	=$2,000
Tax Savings on Health Savings Deposits	$0	($500)*
Total Expenses (yearly Premium + Expenses - Tax savings)	$4,100	$2,868
Total net Savings with Health Savings Plan		=$1,732

Catastrophic Case - $500,000 in expenses

	Individual	Health Savings Plan
Deductible	$2,000 deductible	$2,000 deductible
Max out of pocket or 80/20 Coinsurance	$2,000	100%
Premium Paid	$1,740/ year ($140/month)	$1,368/year ($114 per month)
Expenses	$2,000 deductible $2,000 coinsurance 20 x $40 office visit copay	$2,000 deductible $0 coinsurance $0 copay
Out-of-Pocket Expenses Subtotal	=$4,800	=$2,000
Tax Savings on Health Savings Deposits	$0	($500)*
Total Expenses (yearly Premium + Expenses - Tax savings)	$6,540	$2,868
Total net Savings with Health Savings Plan		=$3,682