Health Care Savings and Spending Accounts
Consumer-directed savings and spending accounts by Blue Cross and Blue Shield of Oklahoma help you and your employees manage health care costs.
¿Qué es una Cuenta de Ahorros para la Salud (HSA en inglés)?
An HSA is a tax-advantaged account that your employees own and can use to pay for qualified medical expenses, including dental and vision services.
How HSAs1 Work
- A BCBSOK HSA is coupled with a federally qualified, PPO high-deductible health plan (HDHP) – an affordable option with lower premiums.
- An HSA offers triple tax savings:
- Contributions are tax free
- Interest and investment earnings are tax free
- Tax free withdrawals by the employee for qualified medical expenses
- Funding options: It can be established with funds from the employer, from the employee or both.
- Aggregate or embedded deductible plans available for ASO clients.
- Employee owned. The funds remain with the employee if they leave the plan. The account is portable, making it easily accessible in the event of a job change, plan replacement, or retirement.
Why HSAs Work
- Employees have access to the same broad PPO network as traditional plans.
- Encourages employees to become better consumers and spend their health care dollars wisely.
- Employee ownership improves employee satisfaction.
- BCBSOK has relationships with HSA administrators who offer preferred pricing, integrated eligibility and claims, and account access via Blue Access for Members, creating an integrated experience for employees with the flexibility, control and transparency they need to make better health care choices and help keep costs low for everyone.
What is a Health Care Account (HCA)?
An HCA is an employer-funded account designed to help employees pay for eligible medical expenses. You allocate a specific amount of money to this account, which employees can use to cover costs like doctor visits, prescriptions and other qualified health services.
How HCAs Work
- An HCA is an employer-funded spending account that engages and empowers employees – Employees decide how their health care dollars are spent.
- Charges for covered medical care services are paid from this account.
- Money spent from the HCA is also applied toward the annual deductible.
- Los fondos no gastados se transfieren de un año a otro. You can cap the amount that accumulates in the account.
- Account balance maximums allow you to choose a specific or unlimited dollar amount.
- Employer owned: if an employee leaves the plan, the funds return to the employer.
Why HCAs Work
- Annual funding can be provided in full, or on a semiannual, quarterly or monthly basis. Proration opportunities available.
- Incentives allow you to fund the HCA after an employee performs a wellness activity, such as a Health Assessment or annual physical.
- BCBSOK offers a substantial selection of HCA products and funding features that enable your clients to follow a multiyear consumerism strategy.
1Health Savings Accounts, including products under our BlueEdge product portfolio, have tax and legal ramifications. BCBSOK no proporciona asesoramiento en materia legal ni fiscal, y nada de lo aquí expresado debería interpretarse como tal. These materials, and any tax-related statements in them, are not intended or written to be used, and cannot be used or relied on, for the purpose of assessing tax liability or avoiding tax penalties. Si hay declaraciones relacionadas con impuestos, pueden haber sido redactadas en conexión con la promoción o la comercialización de las transacciones o los asuntos tratados en este material. Según sus circunstancias particulares, usted deberá contactarse con un asesor independiente en materia de impuestos para conocer las consecuencias fiscales de productos o seguros de gastos médicos.