BNY Mellon Benefits Guide
Cost of Coverage
Your cost of coverage, or your per-pay cost, is what you pay for medical coverage whether or not you use medical services. It is important to consider both your cost of coverage and your cost of care (i.e., deductible, coinsurance and out-of-pocket maximum) when comparing your health plan options. Review the "2018 Medical Contributions."
Make sure your health plan election meets your needs for 2018. See "Tools to Help You Choose the Right Health Plan" in the Welcome to BNY Mellon section for interactive tools you can use to compare options more carefully.
PLAN HRA (HEALTH REIMBURSEMENT ACCOUNT) MAY BE RIGHT FOR YOU IF YOU . . .
PLAN HSA (HEALTH SAVINGS ACCOUNT) MAY BE RIGHT FOR YOU IF YOU . . .
  • want a lower deductible and out-of-pocket maximum
  • want access to a traditional four-tier prescription drug schedule (generic/specialty/formulary/non-formulary)
  • want to contribute to a Flexible Spending Account
  • want the convenience of having the HRA and your Flexible Spending Account on the same debit card
  • want a lower per-pay cost
  • don't mind a higher, "true family"* deductible or a higher out-of-pocket maximum and can budget for it
  • want the potential for tax benefits of the HSA, including tax-free contributions, tax-free earnings on accumulated balances and tax-free distributions if amounts are used for qualified health care expenses
  • want to contribute to a Limited Purpose Flexible Spending Account
* Under Plan HRA, individual deductibles apply to each family member until the family deductible is met. Under Plan HSA, if an employee elects coverage for dependents, the "true family" deductible must be met before the Plan reimburses for benefits, even if only one family member incurs expenses. Plan HSA out-of-pocket expenses paid for an individual family member are limited to no more than $6,850 for in-network coverage before Plan HSA reimburses 100 percent of eligible expenses.
Note: If you enroll for other medical coverage that is not a qualifying high-deductible health plan, such as through your spouse's or domestic partner's plan, including a general purpose Health Care FSA or HRA, or are covered by any part of Medicare including Part A, Part B, etc., or Tricare, by federal law, you aren't eligible to make or receive any contributions for the Health Savings Account. (This is an IRS rule.)