Health Savings Accounts

Each year members can make tax-deductible contributions to an HSA. You can use that money to pay for eligible IRS Section 213(d) medical expenses to meet the deductible. Once you meet the deductible, your 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. You pay lower taxes based on your lowered income.

Please note that maximum allowable contribution levels for an HSA are $3,050 for single coverage and $6,150 for family coverage. The minimum allowable deductible is $1,200 for single coverage and $2,400 for family coverage. These amounts are for 2011 and are adjusted annually for inflation. 

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

You can use HSA funds to pay for many things your 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 HSAs, please visit HSA Bank. (This link leads to a third party Web site. HSA Bank is solely responsible for the contents and privacy policy on its site.) On behalf of BlueCross, HSA Bank administers some health savings accounts. HSA Bank is an independent company.