Health Savings Accounts

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.

If employees become eligible for Medicare, they can use HSA funds to pay Medicare premiums or the cost of coverage under a Medicare health maintenance organization. They cannot use HSA money to buy a Medicare supplement policy. They can, however, continue to pay for their out-of-pocket qualified medical costs.

Employees can use HSA funds to pay for many things the high deductible health plan doesn't cover, such as:

  • Vision and dental services
  • Well-child care immunizations
  • Eyeglasses and contacts
  • Chiropractic services
  • Nursing home costs
  • Long-term care insurance premiums

Please see our frequently asked questions about HSAs. To learn more about the advantages of HSAs, please visit HSA Bank. (This link leads to a third party website. HSA Bank is solely responsible for the contents and privacy policy on its site.) HSA Bank is an independent company that administers some health savings accounts on behalf of BlueCross.

For online customer service, please visit My Health Toolkit®.