Medical
thyssenkrupp medical benefits are built to provide broad coverage for medical services, prescriptions, and routine care. The primary medical benefit is access to a traditional health insurance network, with multiple plan designs to choose your desired level of coverage.
Coverage
Each medical plan option includes coverage for:
- Office visits and access to urgent care facilities
- Inpatient hospital stays and outpatient procedures
- Prescription coverage
- Mental health support and treatment
- Medical imaging
- Telemedicine
Insurance is great for in-the-moment medical needs, but what about protection from future expenses and improving health? We have you covered!
Health Insurance Network:
Blue Cross Blue Shield (BCBS) PPO
BCBS is the largest health care network in the US, and you have access to more than a million providers with their PPO network. You can use PPO hospitals and doctors without a referral, and BCBS rates for services are among the lowest in the market.
Prescription Network:
CVS Caremark
CVS provides the most network pharmacies in the US, and includes many national chains like Walmart, Target, Walgreens, and Rite Aid. Specialty medicine is dispensed directly from CVS and mail order options are available.
Medical Insurance Options at a glance
Your medical plan options have some similarities and some differences.
| Assistance Plan | Savings Plan | Blue Plan | |
|---|---|---|---|
| Medical Network | BCBS PPO | BCBS PPO | BCBS PPO |
| Pharmacy Network | CVS Caremark | CVS Caremark | CVS Caremark |
| Company Contribution | Funds added to HCA on Jan 1 to help pay for your insurance expenses | Additional contribution to your personal HSA to use how you want. Learn more | No additional company contribution |
| Payroll Deduction | lowest of the three plans | middle of the three plans | highest of the three plans |
| Your Expenses | out-of-pocket amounts are the highest of the three plans | out-of-pocket amounts are the middle of the three plans | out-of-pocket amounts are the lowest of the three plans |
| Preventative Care | covered at 100% | covered at 100% | covered at 100% |
Medical Options Overview
Profile: Employees who choose this plan are typically budget conscious, healthy, and rarely see the doctor except for an annual free check-up.
Special Feature: Health Care Account (HCA) comes pre-loaded and ready to offset the first $750* ($1,500 with family coverage) of medical or prescription expenses. The best part is that -if you don’t use it all and stay in the plan- it rolls into next year!
If you get sick: The special account covers your upfront costs, but after that it is as normal an insurance plan as there is. The deductible and total out-of-pocket expense of this plan is the highest of your medical plan choices, but this is offset by the lowest paycheck premiums deducted. Don’t forget, your first expenses will be paid for by the pre-loaded Health Care Account.
Remember: The company contribution isn’t going to cover your full deductible in the first year, so make sure you’re stocking away some of those premium savings in case you have an unexpected expense. All routine and preventative care is covered at 100% so you don’t have to worry about that.
Conclusion: If you don’t expect to get sick more than a couple of times, it will be hard to find a cheaper plan. Many companies offer a plan of this quality as their only option.
* Prorated for mid-year coverage start dates
Special Feature: Health Savings Accounts (HSA) are the modern approach to traditional healthcare. You get a company contribution at the start of the year to save or spend. Your choice! You make additional contributions pre-tax like you would with a 401k, and even invest those funds if you want. When you use the money, it’s tax free too. This becomes your private account…you won’t lose the balance if you ever change plans or leave the company.
If you get sick: You access the traditional PPO network, so you can go to any doctor you want, but you do have a higher deductible. The high deductible you have pay is set by the IRS in order to offer the super functional HSA. After you reach the deductible, co-pays and co-insurance kick in.
Remember: The idea behind the HSA part of this plan is that you’re using it for medical expenses, either now or in the future. It’s a good idea to increase your balance up to the deductible first, and then to the out of pocket maximum. It’s OK if you have to spend the money in the account- that’s why it’s there. And you’re automatically saving money when you do because you avoid paying any taxes, even if you don’t build the balance very high.
Conclusion: It’s a health insurance plan that isn’t just about the insurance. The HSA is a legitimate tool that people use to reduce their taxable income and save for future expenses in a way that they get to control. And, when you need it, you’re still getting excellent medical coverage.
Profile: Employees who choose this plan typically have a chronic condition or expect to see their medical providers frequently throughout the year. This is a no frills, simple to use option.
Special Feature: The best thing about this plan is that the prescription co-pays are available before the deductible is met. Also, the deductible is lower than the other options, so the co-pays and co-insurance kick in sooner.
If you get sick: This plan is similar to the Savings Plan, but does not require you to navigate the IRS deductible rules, so the plan has lower upfront costs. With the lower deductible, and segregated prescription co-pays, your out of pocket expenses will be as low as they can be.
Remember: This is an oldschool plan that is more expensive to offer because of the low deductible. That means your premium will be higher (and in some cases much higher) than the other options. Keep in mind that you do not receive an annual employer contribution to help you defer expenses. A person on this plan usually spends more on premiums than they would on medical expenses in a typical year.
Conclusion: If your budget can afford the paycheck deductions, this plan can work for you. The other options offer lower premiums while offering the same level of care, but on this plan -while you’ll likely pay more by the end of the year- there will be more consistency in your pharmacy and doctor bills.
Who is eligible and how much does this cost?
Medical benefits are available for full-time employees and their families. The company pays the majority of costs for health care benefits and you share in the cost through premiums deducted from your paycheck.
Prescription Drug Coverage
If you have coverage under one of the thyssenkrupp medical plans, you also receive prescription drug benefits provided by CVS/Caremark. Coverage amounts differ based on the medical plan you choose. For specific coverage comparisons, visit the Resources page to view the benefits guide.
Prescription drug benefits include:
- Over 68,000 network pharmacies (including CVS, Walgreens, Target, and Walmart)
- Mail service option for convenient delivery
- Generic drug options to reduce your cost
Contact CVS Caremark at caremark.com and (888) 886-8520.
Resources
tkNA Benefit Guide
Detailed plan comparisons, premium information, and additional features. Password required — see your manager for more information.
BCBSIL App
Manage your claims and medical benefits directly from your phone.