Here are easy steps for setting up your health savings account (HSA) to work with your BlueEdge HSA health plan.
Step 1: Become a BlueEdge HSA member.
You've already chosen the BlueEdge HSA health plan. And you've probably starting thinking about which HSA you want to use with your health plan. Now that you are a BlueEdge member, it's time to choose an HSA administrator/bank and open your health savings account.
Step 2: Open a health savings account once your BlueEdge HSA plan is activated.
- To build savings for health-related expenses, you will need to pair your BlueEdge health plan with an HSA. You 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. To set up your HSA, we recommend you work with your broker or check with your own bank.
- Other resources you can check for more information about HSAs and the institutions that offer them:
- Fund your HSA as soon as possible to maximize your tax advantages for the year.
Step 3: Pay for your qualified medical expenses out of your HSA.
- Most HSA providers will give you a checkbook and/or debit card so you can pay claims directly out of your HSA. These are convenient ways to pay for prescription or over-the-counter drugs. For doctor or hospital visits, consider asking to be billed later in case adjustments are made to your expenses.
- While you are not required to open an HSA to be used with your health plan, most members agree that they get the most out of their plan by taking advantage of the tax benefits, control, and flexibility of an HSA.
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Learn More About BlueEdge HSA
Overview
Benefit Information
How BlueEdge HSA Works
Spending Account and the Deductible
Easy steps for setting up an HSA
FAQs
