Team Dashboard

A quick reference for terms that come up in the survey and in our benefits docs. Not a quiz — just here if helpful.

The Basics

• Premium — what you pay each month for insurance, usually taken out of your paycheck.
• Deductible — what you pay out of pocket each year before insurance starts paying.
• Copay — a fixed amount you pay at the time of service (e.g., $30 for a doctor visit).
• Coinsurance — a percentage you pay after meeting your deductible (e.g., you pay 20%, insurance pays 80%).
• Out-of-pocket maximum — the most you'd pay in a year. Once you hit it, insurance covers 100% of covered services.
• Network — the doctors, hospitals, and pharmacies your plan has agreements with. In-network = lower cost.

Plan Types

• HMO — a plan with a defined network that usually requires referrals (e.g., Kaiser).
• PPO — more flexibility to see specialists, often with a larger network.
• HDHP (High-Deductible Health Plan) — lower monthly premium, higher deductible. Required to be eligible for an HSA.

Savings Accounts

• HSA (Health Savings Account) — tax-advantaged account paired with an HDHP. SOI would contribute. Rolls over every year. Always yours, even if you leave.
• FSA (Flexible Spending Account) — pre-tax account for medical expenses that typically must be used within the year (use-it-or-lose-it).

Other

• Dependent — a spouse, partner, or child you cover on your plan.
• Open Enrollment — the annual window when you can change your benefits selections.

What Is a High-Deductible Health Plan (HDHP)?

An HDHP is a health insurance plan with lower monthly premiums and a higher annual deductible — the amount you pay before insurance begins to pay. HDHPs give you more control over day-to-day health care spending while protecting you from major expenses.

What Is a Health Savings Account (HSA)?

An HSA is a personal, tax-advantaged savings account you can use to pay for qualified health care expenses.

• Available only if you're enrolled in an HDHP
• You own the account — it stays with you if you change jobs or retire
• Unused funds roll over every year — no "use it or lose it" rule

How They Work Together

• You enroll in an HDHP for lower monthly premiums
• SOI contributes to an HSA on your behalf
• You use those HSA funds for doctor visits, prescriptions, lab work, dental & vision, and over-the-counter medications

Triple Tax Advantage

• Tax-free contributions — pre-tax payroll contributions
• Tax-free growth — interest and investments grow untaxed
• Tax-free withdrawals — when used for qualified medical expenses

Who Benefits Most?

• Generally healthy team members who want lower paycheck deductions
• Anyone who wants to build a healthcare savings cushion for the future
• Team members planning ahead for retirement healthcare costs

• Download the Full HSA Guide (PDF) PDF →

A Supplemental Benefit — At No Cost to You

The Champ Plan complements your primary health insurance by covering the things you use most — at $0 copay. Benefits extend to your spouse and children.

What's Covered for You

• $0 copays for primary care and urgent care office visits
• $0 copay for unlimited 24/7 virtual direct primary care
• $0 copay for unlimited prescription drugs (acute and preventive)
• Personal health coaching and wellbeing tools

What's Covered for Your Spouse & Children

• $0 copays for unlimited 24/7 virtual direct primary care
• $0 copays for unlimited prescription drugs

Prescriptions Covered

Nearly 200 generic and brand-name prescriptions at $0 or $1 copay — including medications for high cholesterol, high blood pressure, thyroid, antibiotics, pain management, and mental health.

Common Questions

Do I have to be on SOI's medical plan to participate?
No. Even if you're not enrolled in SOI's medical benefits, you can still use the Champ Plan.

Is there any cost to me?
No. The Champ Plan is provided at no cost to you.

• Download the Full Champ Plan FAQ DOC →