Blue Access for Employers

Spending Account and the Deductible


Spending Account

BlueEdge HSA is compatible with Health Savings Accounts (HSAs), which are tax-advantaged accounts funded by you and/or your employees that can be used to pay for qualified health care expenses.

Here's how a Health Savings Account works:

  • The account can be funded by you, your employees or both, but every employee owns their account.
  • Funds in an HSA are completely portable, so if an employee changes jobs or stops working, the funds stay with the employee.
  • There are no "use it or lose it" rules like there are with Flexible Spending Accounts — unspent money stays in the HSA from year to year.
  • Qualified HSA funds can be invested in interest-bearing accounts.
  • Contributions made to the HSA are tax-deductible. Amounts distributed from the account are not taxed as long as they are used to pay for qualified health care expenses.

For more information about HSAs, go to www.irs.gov .

Deductible

BlueEdge has an annual deductible that must be satisfied before PPO benefits begin.

Here's how it works:

  • The deductible amount, which is based on your particular benefit plan, is shared between the HSA contribution and the employee.
  • The money used from the HSA is applied toward the deductible.
  • Once all the money in the HSA is used any remaining balance of the deductible must be satisfied before PPO benefits begin.
  • With BlueEdge HSA, the family deductible is an aggregate deductible. The entire deductible amount must be satisfied before benefits begin for any family member. Once the family deductible is met, PPO benefits will be paid for the whole family. The deductible is part of the out-of-pocket maximum.

Learn More About BlueEdge HSA

Overview
Benefit Information
How BlueEdge HSA Works
Easy steps for setting up an HSA
BlueEdge HSA FAQs
Common FAQs

 

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