Helping Your Client Set Up a Health Plan and HSA

It's easy to help your clients get the most from their BlueEdge health plan and health savings account (HSA).

Step 1: Select and enroll your client in the BlueEdge Individual HSA Plan.

• Choose the deductible and level of coverage that are best for your client.
• Complete and submit the application to BCBSNM Underwriting.
• Introduce information about HSA choices at this point. Your clients will need a health savings account to work with their BlueEdge Individual HSA health plan. They may choose any HSA financial administrator or set up a health savings account directly with a bank. There are national and local HSA administrators/banks that offer HSAs and/or services to support HSAs; contact information for some HSA administrators/banks is listed below. We recommend the member works with their broker or contacts one of these entities directly to set up an HSA. BCBSNM is not endorsing or recommending any of these entities and is providing this list as a service to our members. They'll need to consider the associated fees, investment choices, and debit card/checkbook options to determine which HSA is right for them. This list represents only those known entities that support HSAs as of the time this Web page was posted. As additional HSA administrators and banks become known to BCBSNM, we will make every attempt to update this list accordingly.
• For information about setting up an HSA, check with these HSA financial administrators/banks:
  • AmBank
    Call Donna Monzingo or Raymond Welborn with AmBank in Silver City, NM, at 505-534-0550 or toll-free at 1-800-440-8751, for information and to apply for a Health Savings Account.

  • First Community Bank
    Please contact Linda Herrera (505-724-5617) or Sheila Martinez (505-724-5609) at First Community Bank in Albuquerque, NM, to obtain information and apply for an HSA.

  • Irwin Union Bank
    To apply for an HSA to work with an individual high-deductible health plan, call Ruby Grzelachowski at 505-563-5991 with Irwin Union Bank in Albuquerque, NM; businesses interested in setting up HSAs can call Linda Lyle at 505-563-5993.

  Many banks now offer Health Savings Accounts, so members can check with their own bank.

• Check these online resources for more information about HSAs and the institutions that offer them.
  • www.treas.gov
  • www.irs.gov

Step 2: Tell your client to open an HSA.

When your clients complete the application process, remind them to open an HSA once their health insurance plan is active.

Step 3: Getting the most out of an HSA.

Once the BlueEdge policy is active, you may choose to again follow up with your clients to remind them that they should open an HSA to get the most out of their health insurance plan. Also, be sure to remind them to:

• Make contributions to their HSA as soon as possible to maximize tax advantages for the year.
• Pay for qualified medical expenses out of their HSA. Most HSA banks provide a checkbook and/or debit card which makes it easy to pay claims directly from the HSA. These are convenient ways to pay for prescription or over-the-counter medications. For doctor or hospital visits, suggest that your clients ask to be billed later in case adjustments are made to their expenses.

Learn More About BlueEdge Individual HSA:
Overview
BlueEdge Individual HSA benefit information
Is an HSA right for your client?
HSA Sales Guidelines
BlueEdge FAQs

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