Welcome to the Medical Plan Cost Estimator.
For definitions of High, Medium or Low in the "Quick scenario" tab, click on "healthcare usage" below. Or, to customize the comparison for you and your family´s healthcare usage, select the "My own scenario" tab and enter the frequency by medical plan service.
CDHP OUT-OF-POCKET EXPENSES: When using this tool, remember that Villanova contributes to the HSA under the CDHP. For this reason, if your estimated out-of-pocket costs for the CDHP are less than or equal to Villanova's contributions to your HSA, the tool will not show any out-of-pocket costs for you.
Step 4: Health Savings Account (HSA)
|I am under age 55|
|I'm age 55 or older and I want to contribute more to my HSA as the law allows (up to an additional $1,000).|
Slide this bar to see how your HSA contributions can help you cover your out-of-pocket healthcare costs.
My desired HSA contribution:
|* amount subjected to corresponding plan limits|
|More about the savings accounts.|
Step 5: Find out how you can save on taxes
When you finish estimating your healthcare costs, use the results to decide which tax savings vehicle applies to your plan.
Use the sliders on the right to estimate your eligible expenses not covered by the plan for the upcoming plan year.
|Income tax filing status:|
Welcome to the Medical Plan Cost Estimator tool. The purpose of this tool is to help you estimate your annual out-of-pocket medical expenses and to help you choose the medical plan that may best suit your needs.
We respect your privacy. None of the information you use to calculate your out-of-pocket costs can be collected or tracked, including your expected annual medical care expenses. When you navigate away from the Medical Plan Cost Estimator tool, your information is automatically discarded. You can print your selections and criteria from the Medical Plan Cost Estimator tool. Please keep your printouts secure and use caution when printing to shared printers.
By using this tool, you are automatically agreeing that you understand and accept the following:
Estimates are based on national average medical cost data and most of the specific provisions of the medical coverage options provided by Villanova. Because costs vary by provider and not all service details are included, actual costs may vary from the costs the Medical Plan Cost Estimator tool provides. Actual costs may also vary based on the order in which services are incurred and by the specific family member using a service (if applicable). In the event of any contradiction between the information contained in this tool and the Plan Documents, the Plan Documents shall govern in all cases.
This tool is designed to help you choose the medical plan that is right for you in two easy steps:
Then, you'll be able to see an estimate of what you'll spend annually for the upcoming year under each
medical plan option. You can also use the Health Savings Account section to consider how much you should
contribute on a
This tool is designed for optimal performance in Internet Explorer 9 and later, and recent versions of Mozilla Firefox and Google Chrome. If you are using an earlier version or a web browser not listed, you may experience errors or be unable to use the tool correctly. In this case, please access the tool again using one of the listed web browser versions.
For optimal viewing, set the screen resolution to 1024 x 768 or higher.
The following cost assumptions were used in the tool:
|Routine physical / GYN exam (ages 18 to 39)||$139.00|
|Diagnosis / treatment office visit||$153.00|
|Specialist office visit (minor problems)||$126.00|
|Emergency room visit||$1,323.00|
|Two-day inpatient stay||$13,264.00|
|Retail - generic prescription (30-day supply)||$35.10|
|Retail - preferred brand name prescription (30-day supply)||$418.80|
|Mail order - preferred brand name prescription (90-day supply)||$747.00|
Please note that the estimates are based on average healthcare costs. Because costs vary by provider and by province and not all option details are included, actual costs may vary from the cost estimates the healthcare cost comparator provides. In the event of any discrepancy between the information contained in this tool and official plan documents, the latter shall govern in all cases.
If you are a full-time benefits eligible Faculty or Staff member enrolled in a Villanova group medical plan with Independence Blue Cross, you were provided an opportunity to complete an online Personal Health Assessment (PHA) and a Health Screening by February 28, 2017 to qualify for the $150 annual medical plan contribution.
Spouses of faculty and staff enrolled in the medical plan were eligible to earn a $75 annual medical plan contribution if they completed the Personal Health Assessment (PHA) by February 28, 2017.
If you and your spouse both fulfilled your respective incentive requirements by February 28, 2017, you earned $225 in annual medical plan contributions toward your
Low healthcare usage means that you and your family typically only use your medical coverage for preventive care (i.e., some lab tests and preventive prescription drugs) and one or two doctor visits a year.
If you select "Low healthcare usage," the tool assumes the following in-network care for the individual:
Medium healthcare usage means that you and your family see the doctor a few times a year for an illness, an injury or a chronic condition and incur prescription drug costs.
High healthcare usage means that you and your family use your medical coverage to manage a complex condition, injury or procedure that requires a number of doctors' visits, prescription drugs on a regular basis and perhaps an inpatient hospital stay, including a birth (regular or Caesarean delivery).
Villanova offers savings accounts to help you pay for eligible healthcare expenses that are not reimbursed under your healthcare plans for you and your eligible dependents:
You may contribute a minimum of $200 up to $2,600 for the 2017-2018 plan year through regular payroll contributions to pay for eligible medical, dental and vision expenses. The Healthcare FSA is not available to those who enroll in the CDHP.
Use it or lose it
With the FSAs, you have until August 15 following the end of the plan year to incur eligible expenses. All claims for reimbursement must be submitted by October 31. You will lose any unused funds if you have a balance in your account after this deadline.
The Health Savings Account (HSA)
An HSA is like having your own healthcare checking or savings account. It’s a tax-savings vehicle that lets you set aside tax-free money to pay for eligible healthcare expenses. If you don’t have to use the money immediately, you can maintain your account for years to come. If you leave Villanova or retire, you can take the money with you. Even if you change medical options in the future, you can still use the money in your HSA. However, you may contribute to the HSA only while you are enrolled in the CDHP. It really is your money and unlike the Healthcare FSA, the money rolls over from year to year.
Limited Purpose FSA
If you enroll in the CDHP with HSA, you are not eligible to enroll in the Healthcare FSA. Although the HSA allows you to save for qualified medical, dental and vision expenses, you may save additional money to pay for qualified dental and vision expenses by enrolling in the Limited Purpose FSA. You may contribute a minimum of $200 up to $2,600 for the 2017-2018 plan year through regular payroll contributions. The same “use it or lose it” Healthcare FSA rules apply to the Limited Purpose FSA.
Advantages of the HSA
How Much You Can Contribute to an HSA
You can participate in an HSA only if you choose the CDHP with HSA. When you enroll, you will need to specify the annual amount you would like to contribute pre-tax to your HSA. You can change your contribution amount anytime during the year.
For 2017, you can contribute up to the maximum IRS amounts (excluding Villanova’s contributions):