Choosing a medical plan is a personal choice. That's why Key provides three great options to ensure you'll be able to access the care you need when you need it to help you be your best.
Overview
Eligible employees can participate in Key’s Medical Plan. Key offers the choice of three high-deductible health plan options.
Each option has a combined medical/prescription deductible and maximum out-of-pocket expense. The Key medical plan options are offered through the UnitedHealthcare network. All options cover preventive care at 100% and are compatible with a Health Savings Account (HSA). Prescription drug coverage is offered through Express Scripts.
Watch this short video to explore how your benefits work.
Key offers employee medical insurance through low-premium, high-deductible health plans. These plans can give you a better understanding of the costs of healthcare services.
Generally speaking, medical expenses are financed through set costs and potential costs. Set costs are paid regularly through pre tax payroll deductions in the form of medical premiums and health savings account deposits. Potential costs occur only when medical needs arise.
Every year you pay 100% of your medical and prescription expenses up to the amount of your deductible. After that you only pay a percentage of each charge which is called coinsurance. For prescription drugs, the coinsurance amount of a generic drug could be different from a preferred brand. And once you hit your out of pocked maximum, all further covered medical and prescription charges for that year are paid 100% by the plan.
An important component of your medical benefit is preventive care, which is paid by your plan at 100% even if you haven't met your deductible yet. It includes annual physicals, annual women's visits, preventative screenings, and immunizations. For preventive medications you only pay the coinsurance amount even before the deductible is met.
Key benefits basics, helping you understand the key terms and components of your benefits to help you thrive.
More Information
- Review details of the Medical Plan
- View premiums