Health Savings Account

You've made a smart decision for your company and employees by offering an HSA eligible plan. It provides comprehensive benefits through a high deductible health plan and cost savings for you and your employees.

But don't miss out on the advantages of pairing your health plan with an HSA through Blue Cross, our integrated HSA solution makes things easier for you and your employees with a one-stop shop for your benefits enrollment, eligibility, membership claims, billing, customer service, and spending account needs.

Work with us to get all your health plan and spending account needs met in one place. It cuts the hassle of dealing with multiple vendors and means less legwork for your benefits department.

Our integrated solution provides easy account setup, streamlined administration, and seamless payment and tracking of claims and bills, and it minimizes employee confusion with single sign-on capabilities, allowing them to conveniently access all their health plan and HSA information from their Blue Cross member account. We work with industry leading HSA administrators to provide a fully integrated best in class simple and seamless healthcare experience for you and your employees.

We work closely with our HSA administrators to give you implementation assistance, HSA education and ongoing support. And don't forget about all the benefits an HSA offers. You can benefit from lower payroll taxes if you set up your HSA to allow pre-tax contributions, an added monetary benefit for your employee compensation package.

When you offer employee HSA contributions, lower health benefits costs reduced FICA, feta, sda, and workers' compensation rates. There are many benefits for employees too.

And HSA gives your employees a savings tool to easily set aside money for common and unexpected medical, prescription drug, dental, and vision care expenses. So the money is there when they need it. Today, tomorrow, and in retirement.

An HSA offers triple tax savings, employee contributions through payroll deduction, investment gains and withdrawals for qualified medical expenses are all tax free. HSA balances roll over each year and don't expire, so there's no need to worry about using it or losing it.

Ready to take advantage of the benefits that come with working with us for your health plan and HSA needs? Contact your Blue Cross account manager, agent or sales representative to get started.

You've made a great choice by offering your employees a high-deductible health plan with a health savings account. This means they get quality benefits and savings at the same time. If you're interested in improving your employees' engagement with your HSA-compatible plan, try these three simple tips.

Tip one, contribute to your employees' HSAs. Employer contributions can help increase employee satisfaction, attract and retain talent, and grow your employees' savings so they can afford the care they need. So if you aren't making contributions, now's a great time to consider it.

For companies with fewer than 500 employees, the average yearly employer contribution is $750 for an individual plan and $1,200 for a family plan. Larger companies generally contribute $500 for individuals and $1,000 for families.

Employer contributions also encourage employees to take action and contribute funds to help boost their HSA savings. And there are tax advantages for both you and your employees. HSA contributions through payroll reduce employer payroll taxes and lower FICA, state and federal unemployment, and worker compensation contributions. Employer contributions are also treated as a deductible business expense.

Tip two, educate your employees. Too often, annual open enrollment is the only time employees hear about HSAs. Consider ongoing outreach to keep your employees informed and engaged. Our consumer-directed health care toolkit is a great resource to help you share information throughout the year and aid in higher plan adoption during open enrollment. Visit bcbsm.com/engage to view, download, or print materials. Here you'll find ready-to-use flyers, emails, newsletters, and brochures.

Tip three, make sure your employees understand an HSA's savings power. Unexpected health care expenses and retirement healthcare costs can be overwhelming. A great way your employees can prepare for and counter these worries is to boost their HSA savings. Make sure your employees are aware of ways to boost their savings, such as contributing the maximum allowed annual contribution. They can visit irs.gov for current HSA contribution limits. Investing in available mutual funds once their balance reaches a certain threshold. Making the allowed catch-up contribution if they're 55 or older.

Follow these tips to help your employees engage in and see the value of their HSA.