Each year, members can make tax-deductible contributions to an HSA. They can use that money to pay for eligible IRS Section 213(d) medical expenses to meet the deductible. Once they meet the deductible, the BlueCross High Deductible Health Plan coverage takes over. We pay the in- or out-of-network percentages for covered expenses. At the end of the year, any leftover money in an HSA is rolled over to use for future medical expenses. Employees pay lower taxes based on their lowered incomes.
Please note that maximum allowable contribution levels for an HSA are $3,250 for single coverage and $6,450 for family coverage. The minimum allowable deductible is $1,250 for single coverage and $2,500 for family coverage. These amounts are for 2013 and are adjusted annually for inflation.
Employees can use HSA funds to pay for many things the high deductible health plan doesn't cover, such as:
For online customer service, please visit My Health Toolkit®.