CIGNA Choice Fund High-Deductible (HSA)

Deductible and coinsurance apply. Once you reach your out-of-pocket maximum, the plan pays 100% of covered medical expenses for the rest of the year. You can compare the Choice Fund HSA plan benefits to the other medical plans to determine if this plan is right for you.

The CIGNA HSA plan covers the costs of health care professionals both in-network and out-of-network, although out-of-network facilities may be covered at a lower percentage than that of in-network facilities.

Preventive care office visits and related procedures performed in the doctor’s office (coded as preventive by your physician) are covered at 100% only in-network. Recommended procedures performed outside the doctor’s office may result in deductible and coinsurance charges.

Some preventive drugs are covered at 100% with no co-pay or deductible. For a complete list of prescription drugs, please visit myCigna.

If enrolled in a family plan, all family members contribute to the family deductible which must be satisfied before the plan coinsurance is applied to any family member claim.

If enrolled in a family plan, all family members contribute to the family out-of-pocket maximum, which must be satisfied before any family members’ claims are covered 100%.

When you enroll in the Choice Fund HSA plan, Cigna automatically opens a health savings bank account for you through HSA Bank.

• You decide how and when to use the funds
• You can use HSA money to pay for qualified health care expenses related to medical, prescriptions drug, dental, and vision
• You can choose to save the money – unused dollars roll over from year to year
• Whatever you don’t use earns interest and can be invested once a minimum threshold is met
• Any interest or investment earnings on HSA funds are tax-advantaged. HSA contributions and earnings are not subject to federal taxes and not subject to state taxes

Colby makes a monthly contribution to employee’s health savings account in the amount of $105/month for individual coverage or $209/month for family coverage. This enhanced contribution by the College can add up to $1,260 for individual or $2,508 for family coverage per year.

Note: Colby cannot guarantee continued contributions at these levels.

You can use HSA funds to pay qualified health care expenses for yourself, your spouse, or dependents you can claim on your federal income tax.

• Online Bill Pay: You can use the online bill pay feature, free of charge, to have a check sent to yourself or your health care professional for qualified health care expenses that are not reimbursed
• Debit Card: You can use your HSA debit card to pay for eligible services at the doctor’s or dentist’s office and your local pharmacy
• Checks: For a small fee, you can purchase an HSA checkbook and use checks to reimburse yourself for qualified, out-of-pocket expenses or to pay your health care professional directly
• Auto Pay: This permits Cigna to automatically pay some or all of your medical expenses with your HSA funds. You can add or remove Auto Pay at any time during the year by going to your HSA bank and changing your Auto Pay settings there

Most over-the-counter medications (other than insulin and diabetic supplies) will require a doctor’s prescription to qualify for using pre-tax dollars. Other over-the-counter items are still eligible for HSA use including first-aid items, contact lens solution, and supplies, birth control and more. The penalty for using your HSA on non-qualified items is 20%.

The healthcare reform law has made it possible for parents to keep children up to the age 26 on their health plans if they have no other coverage — even those who are married and living away from home. However, HSA funds can only be spent on family members who qualify as true tax dependents. If they don’t qualify as tax dependents, those adult children may be able to open their own HSAs and contribute the full amount allowed by the IRS for a family or an individual.

Be sure to talk to your tax advisor to understand IRS guidelines.

HSA participants can choose to contribute to a Limited Purpose Flexible Spending Account through Group Dynamics. For more information, refer to Flexible Savings Account.

HSA User Guide
Maximizing your HSA
Eligible & Ineligible HSA Expenses
Frequently Asked Questions

View the Customer Website Guide which includes instructions on how to navigate the website, how to pay bills, and how to reimburse yourself.