Being an owner at CMA has many benefits, including the ability to share in the success of the work we do each and every day to take care of our customers and communities. Over the past few years, this has also included the cost of our benefits as we make health and wellness decisions to stay healthy and control healthcare costs.
For backstory, CMA moved to a self-insured medical insurance program in September 2019 in order to control rising healthcare costs. Our costs had been increasing every year – with increases of 8% and up to 18% some plan years. By making smart care decisions, we were able to keep our premiums the same – with no increase the first two years of self-insured coverage – while insurance providers who represent more than 80% of the commercially-insured market saw increases between 6.5% to almost 8% on average.*
This past plan year, we enjoyed three months of zero or reduced premiums with a medical premium holiday. When it came time for open enrollment last summer, we were not only able to keep our premiums the same, but we were also able to lower the costs on our HSA plans and increase the HSA match! The lowered cost of coverage on each paycheck for those enrolled in the plan, paired with the premium holiday and an increased match for HSA up to $25 on each pay check, shows that being an owner really pays off!
This current plan year has been no different so far, and by controlling medical costs by using cost-efficient care such as telemedicine instead of urgent care or emergency room visits, we have the flexibility to enjoy another medical premium holiday for the payrolls paid on March 10th through May 26! This means that the costs of the HSA plan for a non-tobacco user, respective to your specific plan (employee, employee and spouse, employee and child/children, employee and family) will be put back into your paychecks!
- For example, an associate who is enrolled in the HDHP HSA plan covering themselves and their spouse normally has $191.26 withheld each pay period for medical coverage. During this medical premium holiday, that amount will be put back into their paycheck!
- For example, an associate with a covered spouse who is enrolled in the 25/30 POS plan normally has $322.93 withheld each pay period for medical coverage. During this medical premium holiday, only $131.67 will be deducted each pay period!
For us to continue to control our costs and offer fantastic benefits like this, we must continue to be OWNERS. Utilizing tools like the HealthJoy app for seeking care through telemedicine instead of urgent care visits, using lower cost medications that provide the same benefit as well as alternative solutions, and locating a provider and recommendations for services to receive the best quality care and even earn rewards for getting care all benefit the plan and our fellow associates.
If you have any questions about our healthcare plans or CMA’s health insurance premium holiday, please reach out to the HR team at askhr@cmacars.com!
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