Choosing Your WEC Medical Plan
Selecting a health plan is a personal decision based on your health needs and financial goals. To help you decide, we have organized our options into four categories based on coverage level. Click a tab below to see a side-by-side comparison of the plans for your specific situation.
Quick Tips for Your Search:
– Focus on the “Why”: Check the “Why Consider This Plan” section at the bottom of each comparison to see which “personality” matches your healthcare usage.
– Preventive is Free: Regardless of which plan you choose, in-network preventive care is always covered at 100% with no cost to you.
– The Power of the Match: If you choose a High Deductible plan, don’t forget that Warren Equipment Company contributes money (up to $1,200) directly into your HSA to help you pay for care.
Plan Footnotes
*High-Deductible Plan 1 HSA Contribution: $200 in seed money paid to employee enrolled in High-Deductible plan; employee is eligible for $400 in company match money after employee contributions match seed amount. Benefit effective date after January will reduce seed and match amounts.
**High-Deductible Plan Two HSA Contribution: $200 in seed money paid to employee enrolled in High-Deductible plan; employee is eligible for $300 in company match money after employee contributions match seed amount. Benefit effective date after January will reduce seed and match amounts.
Plan Footnotes
*High-Deductible Plan 1 HSA Contribution: $400 in seed money paid to employee enrolled in High-Deductible plan; employee is eligible for $800 in company match money after employee contributions match seed amount. Benefit effective date after January will reduce seed and match amounts.
**High-Deductible Plan 2 HSA Contribution: $400 in seed money paid to employee enrolled in High-Deductible plan; employee is eligible for $600 in company match money after employee contributions match seed amount. Benefit effective date after January will reduce seed and match amounts.
Plan Footnotes
*High-Deductible Plan 1 HSA Contribution: $400 in seed money paid to employee enrolled in High-Deductible plan; employee is eligible for $800 in company match money after employee contributions match seed amount. Benefit effective date after January will reduce seed and match amounts.
**High-Deductible Plan 2 HSA Contribution: $400 in seed money paid to employee enrolled in High-Deductible plan; employee is eligible for $600 in company match money after employee contributions match seed amount. Benefit effective date after January will reduce seed and match amounts.
Plan Footnotes
*High-Deductible Plan 1 HSA Contribution: $400 in seed money paid to employee enrolled in High-Deductible plan; employee is eligible for $800 in company match money after employee contributions match seed amount. Benefit effective date after January will reduce seed and match amounts.
**High-Deductible Plan 2 HSA Contribution: $400 in seed money paid to employee enrolled in High-Deductible plan; employee is eligible for $600 in company match money after employee contributions match seed amount. Benefit effective date after January will reduce seed and match amounts.
Helpful Benefit Terms
Annual Deductible: The fixed amount you must pay out of pocket for covered medical services before the plan begins to pay its share.
Employee Coinsurance: Your share of the costs for covered services, expressed as a percentage (e.g., 20%), which you pay after you have met your annual deductible.
Out-of-Pocket Maximum: The maximum limit on what you will pay for covered services in a plan year; once reached, the plan pays 100% for the remainder of the year.
Preventive Care: Routine healthcare services like check-ups and screenings intended to prevent illness, which are covered at 100% ($0 cost to you) on all plans.
Office Visit: The cost associated with seeing a primary care doctor or specialist; this is paid via coinsurance on most plans or a fixed copay on the Copay plan.
Prescription Pricing: The amount you pay for medications based on their “Tier” (Generic, Preferred, or Non-Preferred); some plans require the deductible to be met first, while others offer immediate copays.
Warren HSA Contribution: Money that Warren Equipment Company deposits directly into your Health Savings Account to help you pay for eligible expenses. Employees are eligible for seed and match funds every plan year they are enrolled in a high-deductible plan. See footnotes for more information.
Biweekly Premium: The amount of money deducted from each paycheck to pay for your health insurance coverage.