It pays to have COVA HealthAware!

Hi there. So, you want to know more about COVA HealthAware. Well, if you're a current employee, or retiree, or a new employee with the Commonwealth, you're in the right place. COVA HealthAware is a consumer directed health plan, administered by Aetna, that includes coverage for medical, dental, vision, hearing and prescription drugs. Depending on which members of your family are enrolled, you can save 60 to 90% on premium contributions, compared with some of your other health plan options. The plan also comes with a health reimbursement arrangement, an HRA, to help you pay for out-of-pocket costs, like your deductible. So, you can see it pays to be healthy with COVA HealthAware. If you're thinking about enrolling in COVA HealthAware, there's a lot here to learn. If you're already enrolled, it's a good time to review your benefits to make the most of your plan. So, join me for the next few minutes and I'll fill you in. There are three important components to COVA HealthAware:

• the HRA, which is also called the Fund;
• the deductible;
• and the health plan coverage.

The HRA is funded by an annual contribution from the Commonwealth, as well as incentive contributions you can earn over the course of the year. As you incur eligible expenses during the plan year, the HRA automatically pays for your share of eligible medical, behavioral health, or pharmacy expenses. The deductible is the amount you pay before the plan begins to pay benefits. You are responsible for 100% of your healthcare expenses while you are meeting your deductible. The great news is this includes funds used from your HRA, so it's not all truly out of your pocket. Now, once you meet your deductible, the plan pays 80%, and you pay 20% for care in the network. Why choose network providers? Well, network providers offer discounted fees. Plus, when you stay in the network, the plan pays a larger share of the costs, which means, your share is less. So, you can see how the plan gives you control over your healthcare dollars. The plan also has a combined medical and prescription drug out-of-pocket maximum that limits the amount you would pay during a single plan year. Did the part about the HRA and incentive contributions catch your attention? That's one of the best features of COVA HealthAware. Let me explain how simple it is. At the beginning of each plan year, the HRA is funded based on who is covered by the plan. There's a contribution for you, and a contribution for your covered spouse. Oh, and these funds come from the Commonwealth. There's no deduction from your pay. During the plan year, you can earn more HRA contributions for healthy actions you may already be doing. These incentives are called, Do Rights. There are also other opportunities to earn even more incentives. If you enroll after the start of the plan year, the initial HRA contribution is prorated, but you still have the full opportunity to earn incentives. You can see how the HRA funds can really add up. Now that you have all of those funds available, how can you make the most of your HRA? You can get the most from your COVA HealthAware plan and stretch your HRA dollars by being a smart healthcare consumer. Here are a few easy things you can do. Take advantage of preventive care. It's covered at 100% in the network, so no funds are used from your HRA. Grow your fund with incentives. The Do Right program rewards you for healthy activities you may already be doing. If you're eligible, enroll in programs to help you save money and earn incentives. Research and compare costs in advance. You can make more informed decisions about how and where to use your healthcare dollars. Use network providers, and choose the most cost effective place for care. For example, try Teledoc, or a walk-in clinic when it's not an emergency. When purchasing prescription medications, use generics when possible. By taking these few extra steps, you can really stretch your HRA dollars and limit your out-of-pocket expenses. You may even have HRA funds remaining at the end of the plan year, which is great news. So, you've earned Do Right incentives, and used your funds wisely. Well done. Any funds remaining at the end of the plan year, will roll into the next plan year, with no limit, as long as you remain in the plan. Over time, you could build up enough to pay your entire deductible, or more. COVA HealthAware encourages you to be an informed and thoughtful consumer of healthcare services, just as you would for any other important purchase. So, if you're motivated to manage your health and your healthcare dollars, COVA HealthAware is the plan for you. If you're already enrolled, great. If you're considering your Commonwealth health plan options, you can visit the COVA HealthAware website for more information. You'll also find other helpful resources like Alex, the interactive benefits counselor. Alex can help you compare your plan options, before you talk with your benefits administrator about enrolling in COVA HealthAware. By saving you money on premiums, and providing you with the HRA, COVA HealthAware could be the perfect fit for your needs. So remember, it pays to be healthy with COVA HealthAware.