Medical Insurance Plans
The University offers two types of medical coverage. The plan options are the Preferred Provider Organization (PPO) and the High Deductible Health Plan (HDHP) + Health Savings Account (HSA). Both medical plans are managed by UMR/United Healthcare. Affordable cost along with excellent coverage enriches your total compensation package.
*Please Note: Medical Insurance premium schedules can be found by logging into Benefitfocus.
Medical Insurance Highlights
- Annual eligible preventative services provided at NO COST.
- "Out-of-network" services covered at a reduced amount (subject to allowable cost).
- Prescription benefit management by CVS/Caremark.
- International medical benefits available.
- Hearing Aids are covered at one per ear per 36-month period. Cost applies to deductible and coinsurance covers 80% of the remaining allowable charges.
Plan Options
High Deductible Health Plan (HDHP) + Health Savings Account (HSA)
The HDHP + HSA may be advantageous for anyone who has a history of spending less on their out-of-pocket medical expenses.
- Lower premiums (45% lower than PPO premiums!)
- Higher deductibles
- Higher out-of-pocket costs
- ACA preventative care prescriptions covered at 100%
- Specific generic preventative care prescriptions covered at 100%
- Chronic Pain – AIRROSTI services are $30 copay after deductible
- Opportunity to build wealth with a Health Savings Account (savings can be carried forward indefinitely)
- Baylor contributes to your HSA in January of each year
Preferred Provider Organization (PPO)
The PPO may be advantageous for anyone who has a history of spending more on their out-of-pocket medical expenses.
- Higher premiums
- Lower deductibles (co-pays vary by service)
- Potential for lower out-of-pocket costs
- ACA preventative care prescriptions covered at 100%
- Chronic Pain – AIRROSTI services are $30 copay
- Opportunity to use a Flexible Spending Account (FSA savings cannot be carried forward - use it or lose it!)
Prescription Drug Plan
CVS/Caremark administers Baylor University’s prescription drug benefit plan, designed to assist members in obtaining prescriptions with cost-effective choices. Eligible employees are automatically enrolled in the prescription drug plan when the employee enrolls in one of the Baylor medical plans (PPO or HDHP).
Prescription Drug Insurance Details
Flexible Spending Account (FSA)
Baylor employees can choose to elect into a Flexible Spending Account (FSA) for Healthcare and/or Dependent Care. An FSA is a tax-effective, money-saving option that will help you pay for qualified healthcare expenses that are not covered by your medical plan, and for dependent care services necessary to enable you to work. Baylor employee FSA are managed through HealthEquity until 12/31/2023. Beginning 1/1/2024, the FSA will be managed through HSA Bank.
Health Savings Account (HSA)
Baylor employees who elect in the High Deductible Health Plan for medical insurance coverage can choose to elect into a Health Savings Account (HSA). A health savings account (HSA) is a tax-exempt savings account into which both the employer and employee can deposit money (up to an annual limit specified by the IRS) on a tax-preferred basis. Baylor employee HSA are managed through Benefit Wallet through 12/31/2023. Beginning 1/1/2024, the HSA will be managed through HSA Bank.
NOTE: If, for whatever reason, you are enrolled in an HSA-qualified HDHP for a partial year, the maximum HSA contribution for that year must be pro-rated; meaning you must be in proportion to the number of months you were covered by the HDHP.
