🤔 Understanding Savvy
What is Savvy?
Savvy is a new kind of health benefit where employers give stipends towards each employee’s individual health insurance. This "HRA" model was enabled by new regulation that came into effect in early 2020. This is quite different from traditional employer insurance programs, which limit employees to 1 or 2 options selected by the employer. Now, employees can use their stipend to pick any qualifying health plan that best suits their unique needs.
With Savvy, you can access tax-exempt healthcare with a degree of choice and flexibility you've never had before! Through the Savvy platform, you can waive coverage, bring your own health plan, or purchase a new insurance plan in Savvy's shop — the choice is yours.
Individual medical plans
Don't have access to Savvy yet but need to browse plan options? You can view individual health plans and prices here.
🧐 Evaluating your options - enrolling in new coverage
Selecting new plans
- Once you’re onboarded to the Savvy platform, you'll be able to use the Savvy navigator to see plan options available in your area. Whether you're most concerned about copays on specific services, deductible amount, or other plan benefit features, you'll be able to compare plans. If you have any questions as you consider your options, just use the in-app chat to connect with the Savvy team for guidance
- NOTE: if you're enrolled in existing individual coverage that you're choosing not to continue with, you are responsible for terminating that plan prior to your new plans going into effect. Please let us know in the app if you're selecting a new plan with your existing carrier to avoid any issues with your application!
Enrolling in new plans — what do I need to do?
- Once you choose your new plan(s), the Savvy team will help you facilitate your application to get enrolled with your chosen insurance carrier(s). You will need to personally pay for your plan each month — Savvy will setup recurring reimbursement via your payroll.
- Please keep a close eye on all emails from Savvy Support and respond promptly