BNY Mellon Benefits Guide
How the Plans Work
Plan HRA (Health Reimbursement Account) and Plan HSA (Health Savings Account) are both built on traditional health insurance plans with these features:
- You have access to national networks of doctors and hospitals provided by Aetna or UnitedHealthcare.
- You save through negotiated discounts when care is received in-network, while retaining the freedom to use out-of-network providers at a higher cost.
- After you reach your annual deductible, BNY Mellon pays 80 percent of the cost of most other eligible in-network care, and you pay 20 percent.
- Your out-of-pocket medical costs are limited to an annual maximum—including your deductible and coinsurance—which is the most you will pay in any year.
- Prescription coverage is provided through CVS Caremark with negotiated discounts.
- Preventive care is covered at 100 percent if you use in-network providers.
Higher Deductible
Both health plan options have a higher deductible than traditional health plans. High-deductible plans make it more important for you to research the price and value of medical services using the price and quality comparison tools that include those provided by Castlight. You may find that other services have equally effective but less costly alternatives. Asking questions about quality, price and value can help you manage costs without sacrificing quality of care.