One of the benefits of being a member of the Bledsoe Health Trust is that the Trust has the flexibility to tailor the Plan to meet members’ needs and adjust cost-sharing amounts (like the deductible) when appropriate. After a careful review of Trust members’ benefits needs, the Board of Trustees is happy to announce some changes that will help make health care more affordable for the Trust’s members and their families. Beginning January 1, 2025, the annual deductible will be reduced from $500 to $300 per individual and from $1,500 to $900 per family. That’s a reduction of 40%!
How the Deductible Works
Every January 1st, the deductible starts over. That means you’ll pay 100% for all covered services until you meet the deductible, then the Plan will begin paying benefits. (You are not required to pay the deductible for some covered services, such as in-network recommended preventive services). Refer to your Plan Book for more information.)
Tip: Use it or lose it! If you’ve already met the deductible for 2024, make the most of your benefit coverage by receiving any additional services you need by December 31.
Workers with employer-provided coverage paid an average annual deductible of $1,735 in 2023, more than three times the Bledsoe Health Trust rate!
Source: Kaiser Family Foundation
What is the Out-of-Pocket Maximum?
The out-of-pocket maximum (OOPM) remains at $5,000. This is the most you’ll pay for covered services in a Plan Year. When your payments toward the Plan’s allowed amount (deductibles + coinsurance + copays) reaches the OOPM, the Plan pays 100% of covered health care costs for the rest of the Plan Year.
Most people don’t reach the OOPM in one year. But if you do, isn’t it good to know your Health Trust gives you financial security when you need it the most?