BlueSaverSM Health Account Solutions Plan Comparison

Which BlueSaver Health Account Solution is best for your company?

HSA Solutions¹ BlueSaver HRAs BlueSaver FSAs
Availability Groups 2+ Employees Groups 2+ Employees² Groups 100+ Employees²
Eligibility
  • Any individual:
  • younger than 65 and not covered by other health insurance;
  • not entitled to or covered by Medicare;
  • not claimed as a dependent on another person’s tax return
 All Employees All Employees
Are there any health plan requirements? Must be offered with a qualified high deductible health plan Typically offered with Deductible Plans Can be offered with any plan
How are accounts funded? Employee Employer Employer and/or Employee³
Maximum Contributions For 2012: $3,100 for single coverage, $6,250 for family coverage¹
 Determined by employer Determined by employer
Can account balances roll over to the next benefit year? Yes Determined by employer No, unused balances are forfeited at the end of the year
Is the account portable? Yes, the member owns the account and it will move with them if they change groups No, if the member leaves, unused funds go to the group No, if the member leaves, unused funds are forfeited
Are claims substantiated as qualified medical expenses? Yes, only qualified medical expenses are reimbursable. Yes, only qualified medical expenses are reimbursable. No, but account holder must substantiate any claimed reimbursement if requested by the IRS.
Can funds earn interest? Yes N/A No
Is there an investment feature? Yes No No
How are funds utilized/reimbursed? Debit Card/Checks Claim reimbursement or Debit Card4 Claim reimbursement or Debit Card
Reimbursable Expenses Defined in IRS Section 213(d), and certain qualified premiums Copays, deductibles and coinsurance Defined in IRS Section 213(d)
Tax for employer contributions Employer contributions excluded from employee’s taxable income Employer contributions excluded from employee’s taxable income N/A
Tax for employee contributions Post tax “above the line” deductions N/A Pretax from gross income
Employer tax savings Business expense: 7.65% of employee contribution Business expense: deduction for payments Business expense: 7.65% of employee contribution
Who substantiates claims? Employee maintains supporting tax records Administrator substantiates all medical expenses Administrator substantiates all medical expenses
How are distributions handled from a tax perspective? Qualified medical expenses are tax free. Non-qualified medical expenses are subject to tax and penalty. Qualified medical expenses are tax free. Qualified medical expenses are tax free.
Employer reporting requirements Employer contributions Not Required N/A

¹These amounts are adjusted by the IRS annually for inflation.

²FSAs and HRAs are administered by AmeriHealth Administrators®, Inc. Not all variability is offered with small group BlueSaver HRA options.

³FSAs are typically funded by employees, but employers can also fund them.

4Debit Card only for customers with 100+ employees