CARE+ MVP PLANS

Preventive care visits refer to routine check-ups, screenings, and immunizations intended to prevent or detect illness or other health conditions at an early stage when they might be easier to treat. The goal of preventive care is to help people stay healthy and to identify and manage potential health issues before they become more serious.

Here's a breakdown of what might be included in preventive care visits:

Routine Check-ups: Regular physical examinations, including measurements, health evaluations, and patient counseling, to prevent health issues or diseases.

Screenings: Tests or exams to detect health conditions before they manifest symptoms. Common screenings might include blood pressure measurements, cholesterol level checks, mammograms, colonoscopies, and others based on age, gender, and risk factors.

Immunizations: Vaccinations against certain diseases like measles, mumps, rubella, hepatitis, flu, and more.

Pediatric Check-ups: Regular assessments of children's health, growth, and development.

Under the Affordable Care Act (ACA), many preventive care services are covered without any out-of-pocket costs when delivered by a network provider, which means no copayment, coinsurance, or deductible is required.

A Health Savings Account (HSA) is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a High Deductible Health Plan (HDHP). The funds contributed to the account are not subject to federal income tax at the time of deposit. An HSA is designed to help individuals save for future healthcare expenses.

Here are some key features and benefits of HSAs:

Tax Advantages:

• Pre-Tax Contributions: Money deposited into the HSA is not subject to federal taxes upon deposit.
• Tax-Free Withdrawals: Funds can be withdrawn tax-free if they are used to pay for qualified medical expenses.
• Tax-Deferred Growth: Any interest or other earnings on the assets in the account are tax-free.

Flexibility: The funds in an HSA can be used to pay for a wide range of medical expenses, including some that might not be covered by a health insurance plan.

Ownership: The HSA is owned by the individual, meaning that even if a person changes jobs or health insurance plans, the HSA and the funds within it remain with the individual.

Roll-over: Unlike some other types of accounts, the funds in an HSA roll over year to year. There's no "use it or lose it" condition.

Savings Tool: HSAs can be used as a savings tool for future medical expenses. Many HSAs offer investment options, allowing the funds to grow over time, which can be beneficial for long-term savings, especially in preparation for medical expenses in retirement.

High Deductible Health Plan Requirement: To qualify for an HSA, an individual must be enrolled in a High Deductible Health Plan (HDHP). This type of plan generally has lower premiums but higher deductibles than a traditional health plan.

Contribution Limits: There are annual limits on how much can be contributed to an HSA. These limits can change annually and are also affected by factors like age and family size.

Penalty for Non-Medical Expenses: While funds can be withdrawn for non-medical expenses, this type of withdrawal is subject to both taxes and a penalty if the account holder is under 65. After age 65, funds can be withdrawn for non-medical purposes without penalty, though they will be taxed as income.

HSAs can provide a powerful way for individuals to plan for medical expenses, offering both flexibility and tax benefits.