- Home
- Agents
- Products & Services
- High Deductible Health Plan
- Health Savings Accounts (HSAs)
Health Savings Accounts (HSAs)
(You will need the Adobe Acrobat Reader to view or print some of the items on this page.)
Each year employees may make tax-deductible contributions to an HSA. Employees use that money to pay for eligible IRS Section 213(d) medical expenses to meet the deductible. Once employees meet the deductible, their BlueChoice HealthPlan High Deductible Health Plan coverage takes over. We pay the in- or out-of-network percentages for covered expenses. At the end of the year, any leftover money in an HSA is rolled over to use for future medical expenses. Employees pay lower taxes based on their lower income.
Please note that maximum allowable contribution levels for an HSA are the amount of the chosen deductible, not to exceed $2,900 for single coverage and $5,800 for family coverage. The minimum allowable deductible is $1,100 for single coverage and $2,200 for family coverage.
If employees become eligible for Medicare, they can use HSA funds to pay Medicare premiums on the cost of coverage under a Medicare health maintenance organization (HMO). They cannot use HSA money to buy a Medicare supplement policy. Employees can, however, continue to pay for their out-of-pocket qualified medical costs.
- Vision and dental services
- Well-child care immunizations
- Eyeglasses and contacts
- Chiropractic services
- Nursing home costs
- Long-term care insurance premiums
Employees can use HSA funds to pay for many things their High Deductible Health Plan doesn't cover, such as:
Learn more about HSAs by reading our frequently asked questions. Or call us at 1-800-327-3183, ext. 25568 today!
Does HSA Bank administer your HSA? Manage your HSA here. Need online access through HSA Bank? Download the application form. Return to our High Deductible Health Plan page.