Meet Holly
Holly is excited about moving into her very first place. Of course, decorating it costs a lot more than she ever considered while she was living with her parents! She spends much of her free time running and wants to finish at least one marathon this year.
What Holly Considers
Holly's always been healthy, and her running helps to keep her in shape. She wants a medical plan that will provide protection in the event she gets hurt or has an unexpected medical issue. She also knows how important it is to try and prepare for her future.
What Holly Decides and Why
Holly likes the fact that the Healthy Savings Choice plan has the lowest access fees but still covers 100 percent of all preventive care services plus 80 percent of eligible expenses when she uses in-network providers (60 percent for out-of-network providers). This plan features the highest annual deductible—$4,500 for associate only coverage—and Holly can use Timken's $500 contribution to her Health Savings Account (HSA) to help offset her costs when she receives care.
When Holly was reviewing the online resources available to her, she also took a look at the HSA Estimator to determine how much she could save by making contributions to her HSA. Although Holly isn't planning to contribute additional pre-tax dollars to her Health Savings Account this year, she definitely plans to take advantage of this tax-savings feature in future years, once she's settled in her new apartment.
Because most of her doctor's visits are for preventive care, she expects that she'll be able to roll over most of Timken's $500 HSA contribution next year. Her dad mentioned that she can use this account to start building a nest egg for her medical expenses in retirement. Even though retirement is far off, Holly likes that idea—especially since Timken is helping to fund the account.
Meet Holly
- Gender: Female
- Age: Under 30
- Coverage for: Associate Only
- Estimated Health Care Needs: Low