Spending Account
BlueEdge HSA is compatible with Health Savings Accounts (HSAs), which are tax-advantaged accounts funded by you and/or your employer that can be used to pay for qualified health care expenses.
Here's how a Health Savings Account works:
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The account can be funded by you, your employer or both, but you own the account.
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Funds in an HSA are completely portable, so if you change jobs or stop working, the funds stay with you.
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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.
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Qualified HSA funds can be invested in interest-bearing accounts.
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Contributions you make 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.
If you need more basic information about HSAs, download and print out an HSA brochure (PDF) from the U.S. Department of the Treasury.
Deductible
BlueEdge has an annual deductible that you must satisfy before PPO benefits begin.
Here's how it works:
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The deductible amount, which is based on your employer's particular benefit plan, is shared between the Spending Account contribution and you.
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The money you use from your Spending Account is applied toward the deductible.
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Once you use all the money in your Spending Account, you need to satisfy any remaining balance of your deductible before your PPO benefits begin.
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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
FAQs
