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 $3,250 for single coverage and $6,450 for family coverage. The minimum required deductible is $1,250 for single coverage and $2,500 for family coverage. These amounts are for 2013 and are adjusted annually for inflation.
You can use HSA funds to pay for many things your high deductible health plan doesn't cover, such as:
For online customer service, please visit My Health Toolkit®.