Open Enrollment | February 7-23, 2022

Our Medical Plans

More control over your healthcare – medical plan lineup

The high deductible health plans (HDHP), Plus plan and Base plan, are coupled with a healthcare savings account that associates can access to pay for eligible medical care expenses. The medical plans provide 100% preventative care coverage for services, such as annual physicals, mammograms, immunizations and well-child care.

All other services require that you pay the deductible and then the coinsurance (the amount you’re responsible for paying once the deductible has been met). The plan also offers in-network and out-of-network coverage.  

A health savings account (HSA) is a tax-exempt health account that an individual uses to pay for health expenses. Associates can access their accounts to pay for any qualified medical, dental or vision out-of-pocket expenses allowed by the IRS (deductibles, copayments, coinsurance, uninsured expenses, etc.).

Both Plans

  • Will continue to be offered through UnitedHealthcare, so there will be no related changes to the provider network (doctors, hospitals, etc.) and the same kinds of medical care will be covered.
  • In-network preventive care is covered at 100%..
    • For all other care, you pay 100% of the cost for medical care until you meet the medical plan deductible.
    • All expenses accrue together to meet the deductible before the coinsurance is applied. See example below.
    • All expenses accrue together to meet the out of pocket (OOP) maximum, then the plan pays 100% for covered services.
  • Include an employer contribution from Raymond James paid on a per pay period basis through the year to eligible associates.        
  • Provide opportunity for an additional contribution to eligible associates from Raymond James for associates who complete a voluntary wellness screening and enroll in a medical plan.
    • These screenings can be done at your primary care provider, through specified third-party labs, through an at-home testing kit, or during an onsite event. Screenings will provide confidential information on your cholesterol, blood glucose, blood pressure and body mass index (BMI).  

We are focused on providing flexibility for you to prepare for your personal healthcare needs, rather than offering a one-size-fits-all plan. You can decide what works best for you and your family based on your monthly budget and typical healthcare needs.

Accruing deductible and out-of-pocket maximums in an HDHP

All expenses accrue together to meet the deductible before the coinsurance is applied. All expenses accrue together to meet the out of pocket (OOP) maximum, then the plan pays 100% for covered services.

Example:
You + spouse enrolled in the Plus medical plan:
Deductible - $2,800 / OOP Maximum - $5,600

  • Expenses for all covered individuals accrue together toward the deductible and out-of-pocket expenses.
  • If you only have one person using medical services, that one individual must meet the family deductible of $2,800 before coinsurance would apply. The $5,600 OOP must be met before services are covered at 100%.

Did you know?

Raymond James pays an average 84% of premiums, 12.5% higher than similar-sized competitors.

Take a closer look ...

Coverage Plus Base
United Healthcare In-Network Out-of-Network* In-Network Out-of-Network*
Deductible
Individual
Family
$1,400
$2,800
$2,800
$5,600
$2,100
$4,200
$4,200
$8,400
Coinsurance (member pays)
Coverage Amount the Plan Pays
10%
90%
40%
60%
20%
80%
40%
60%
Out of Pocket Maximum
Individual
Family
$2,800
$5,600
$5,600
$11,200
$4,200
$7,700
$8,400
$16,800
Lifetime Maximum Unlimited Unlimited Unlimited Unlimited
Employer Annual HSA Contribution**
Individual
Family
$250
$750
$250
$750
$250
$750
$250
$750
Office Visit Deductible then 10% Deductible then 40% Deductible then 20% Deductible then 40%
Preventive Care 100% covered Deductible then 40% 100% covered Deductible then 40%
Specialist Office Visit Deductible then 10% Deductible then 40% Deductible then 20% Deductible then 40%
Urgent Care Visit Deductible then 10% Deductible then 40% Deductible then 20% Deductible then 40%
Telemedicine Services $50 until Deductible met, then 10% $50 until Deductible met, then 20%
Emergency Room Deductible then 10% Deductible then 10% Deductible then 20% Deductible then 20%
Hospital Inpatient Deductible then 10% Deductible then 40% Deductible then 20% Deductible then 40%
Out-Patient Services Deductible then 10% Deductible then 40% Deductible then 20% Deductible then 40%
Diagnostic/Laboratory and Radiology Deductible then 10% Deductible then 40% Deductible then 20% Deductible then 40%
Maternity
Office Visit
Hospitalization
Deductible then 10%
Deductible then 10%
Deductible then 40%
Deductible then 40%
Deductible then 20%
Deductible then 20%
Deductible then 40%
Deductible then 40%
Mental Health/Substance Abuse Deductible then 10% Deductible then 40% Deductible then 20% Deductible then 40%
Prescription Drug Benefit***
Generic (90 days)
Brand (90 days)
Non-formulary Brand (31 days)
$10 copay after deductible
$30 copay after deductible
$50 copay after deductible
Deductible then 20% Deductible then 40%
90 day Supply through Mail Order Rx or Walgreens Pharmacy
Generic (90 days)
Brand (90 days)
Non-formulary Brand (90 days)
$25 copay after deductible
$75 copay after deductible
$125 copay after deductible
Deductible then 20% Deductible then 40%

*Out of Network: The plan will pay the coinsurance amount of the reasonable and customary charge for that provider's geographical area
**Employer contribution amount shown as the automatic funding amount. Associates joining the plan mid-year will receive a prorated amount based on the number of months enrolled in the medical plan. Please note that Tier 4 associates will not receive an employer contribution.
***A 90 day supply for some Rx can be obtained through Walgreens retail pharmacies

Key features of the HSA – earn money from Raymond James just for joining the plan

Beyond managing expected expenses, we want to help you leverage healthcare-related, tax-advantaged savings that can be used for unplanned healthcare expenses or that can be invested as part of your long-term financial plan. 

The HSA offers important advantages:
  • You can save. You decide how much to put into your account each year.
  • You never pay taxes. You don’t pay taxes on any money you and the company put into your HSA when it goes in or when you use it for eligible expenses.
  • It’s your money. The money in your HSA is yours – to pay for healthcare today or in the future, even if you leave the company.
  • Works like a bank account. Use the money to pay for eligible medical, prescription drug, dental and vision care expenses. You can use the HSA debit card to pay after you receive care, or reimburse yourself for payments you’ve made (up to the available balance in the account).
  • You can change your contribution elections anytime during the plan year.

The IRS sets the contribution levels for HSAs each year. Yours will be based on who you enroll in the medical plan.

When determining how much to contribute to your HSA, consider:

  • Your typical healthcare usage
  • How much unexpected out of pocket expense you can handle from your typical budget
  • Your retirement savings goals, since “overages” can be invested for retirement savings

Use the Decision Assist Tool to assist with understanding your individual costs for each plan and budgeting for your expected expenses.