Which Medical Plan Is Best for You?

Choosing the best medical plan for your needs is a personal decision. Here are some things to consider as you make your choice.

What is your and your family’s general state of health?
Do you tend to see the doctor frequently and/or take prescription drugs?
Do you have a medical condition and/or anticipate any surgeries, new prescription drugs or other medical expenses for 2018?
Are you expecting a major life event in 2018, like getting married, divorced, legally separated or adding an eligible dependent? Be sure to consider medical expenses for any dependent that you plan to add.
To find out the overall costs of various medical services, use the Plan Cost Estimator at umr.com. Note that the estimator does not take the medical plans’ benefit designs or SmartCare savings into account. So you need to consider your deductible, copays, coinsurance and out-of-pocket maximums under each plan (shown in the Medical Plan Comparison Chart) to understand what your out-of-pocket costs will be. If you have completed the Wellness Incentives or plan to use UAMS providers, see Ways to Cut Your Medical Costs.

If you expect high medical costs for 2018, you may want to consider the Classic Plan or Premier Plan, since your out-of-pocket costs will be lower with those Keep in mind that you may lower your costs even more through the SmartCare program, by using UAMS providers.
If you are healthy and rarely see the doctor—and expect that to continue in 2018—or if paying out-of-pocket expenses in full until you reach the deductible is not a concern, you may want to consider the Health Savings Plan, since your premiums will be lowest with this option. If you choose this plan, you’ll also benefit from The University’s contribution to your HSA. If you don’t use your HSA funds, they roll over to future years. Plus, you can add your own pre-tax contributions to your HSA, so you can build up even more funds for future health care expenses. And you can take your HSA with you if you leave The University or retire. But remember, until you meet your deductible, you will pay 100% of the charges.

As required by law, you can only have an HSA with the Health Savings Plan. With the Classic or Premier Plan, you have the option of a Healthcare Flexible Spending Account (FSA). Note that the HSA has many attractive features that are not available through the FSA, such as University contributions and interest earnings, plus the ability to roll over all contributions to future years and take the account with you if you leave The University or retire.

Contact your Human Resource office for premium information, then consider: what are the differences in premiums for each option?
Do you prefer to pay less out of pocket as you incur medical expenses or less in monthly premiums?

If you prefer to pay less in monthly premiums, the Health Savings Plan is the best choice. Keep in mind that it has the highest out-of-pocket costs. However, University contributions to your HSA can help offset these costs.

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