Health Savings Account
BlueEdgeSM Individual HSA
BlueEdge is a consumer-driven health plan with a health savings account (HSA) that you fund, giving you control over how, when, and where you spend your health care dollars. The BlueEdge Individual HSA health plan has four important components:
- Preventive care and wellness visits are paid in full for in-network services (up to $400 when you receive preventive care services from in-network providers) — nothing is deducted from the HSA and you don't need to meet the deductible to enjoy these benefits.
- HSA funds from you are used to pay for covered health care expenses. Money spent from this account, for covered services, counts toward your deductible.
- PPO benefits begin after you meet the deductible. You have the freedom to see any doctor without a referral.
- Online decision resources help increase your awareness and knowledge of health issues and help you keep track of your health care expenses.
BlueEdge Gives You Choices
BlueEdge Individual HSA gives you freedom of choice, flexibility, a broad range of benefits, and the most comprehensive provider network in New Mexico. Across the country, PPO networks are linked through the BlueCard® program so you can find a network doctor or hospital almost anywhere in the United States. When you receive care from preferred providers (doctors, hospitals, and other providers contracted with Blue Cross and Blue Shield):
- Benefits are paid at the highest level.
- There are no claim forms to complete.
- You are not responsible for any charges above the Blue Cross and Blue Shield negotiated fee or allowable amount when you receive services from a preferred provider.
- You do not need a referral to see the doctor of your choice.
- After the deductible is met and your PPO coverage begins, your only other out-of-pocket expenses are any plan-specific coinsurance payments for covered benefits, plus any charges for non-covered services.
You can always choose to receive care from doctors and hospitals outside the network (nonpreferred providers), but benefits will be paid at a lower level.
Health Savings Account (HSA)
BlueEdge Individual HSA is compatible with HSAs, which are tax-advantaged accounts that you fund and use to pay for qualified health care expenses. Here's how a health savings account works:
- The account is funded by you, using a qualified bank. You own the account.
- You select the bank that administers your HSA; BCBSNM will provide a list of banks that offer HSAs.
- Funds in an HSA are completely portable, so if you change jobs or stop working, the funds stay with you.
- 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 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.
View Benefit Information and Frequently Asked Questions.
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