Health Savings Accounts (HSAs)
BlueSaverSM Health Account Solutions
BlueSaver HSA Solutions are member-owned personal savings accounts which can be funded by either the group or the member, and can only be offered in conjunction with a federally qualified High Deductible Health Plan. Members contribute to HSAs through payroll deduction, check, or online transfer. Contributions are tax-deductible and distributions are tax-free when used to pay for qualified medical expenses. Interest and earnings are also tax-free.
Under an HSA arrangement, the member owns the account, so if they change jobs, the account goes with them. Members can even use their HSA as an investment to help cover health care costs in their retirement years.
Added Pharmacy Benefit Exclusive to BlueSaver HSA Customers
You can save money and make it easier for employees with chronic conditions to more easily afford their preventive medications by opting for a benefit that waives the deductible for these prescriptions.
- For a complete list of qualified eligible medical expenses, view IRS Publication 502: Medical and Dental Expenses.
- To learn more about Health Savings Accounts, please review IRS Publication 969: Health Savings Accounts.
For more information, contact your producing agent, consultant, Independence Blue Cross representative, or call, 215-241-2263.