Blue Access for Producers

BlueEdge Select HSA Overview


The BlueEdge Select HSA plan is available to groups with two or more employees

Blue Cross and Blue Shield of Illinois offer a variety of Consumer Driven Health Plans (CDHP's) which can help your clients control rising health care costs. The BlueEdge plan puts employees in charge of their health by giving them the power to decide how their health care dollars are spent, and by providing online member resources to help them manage their health plan and make informed decisions about their health. The BlueEdge Select plans offer a reduction in premium prices since the smaller Blue Choice Select network is used. Here is what makes BlueEdge HSA an exciting option.

Advantages

  • Affordability: lower health insurance premiums by switching to a health insurance plan with a higher deductible.
  • Triple Tax Savings:
  1. tax deductions when account contributions are made
  2. tax-free earnings through investment
  3. tax-free withdrawals for qualified medical expenses
  • Portability: members keep the account even if they change insurance plans, jobs, or retire.
  • Flexibility: use the funds to pay for current medical expenses or save the money for future needs.
  • Savings: grow your account through investment earnings.
  • Control: the member decides how much money is to be put into the account and when to use it to pay for medical expenses.

Benefits

Preventive Care

  • Well-child and adult care, including immunizations
  • Screenings such as cholesterol, breast cancer, and cervical cancer

Services covered at 100 percent when received in network

Doctor and Hospital Care

  • Office visits
  • Hospital and Surgical care
  • Diagnostic testing
  • Emergency care benefits
  • Maternity care

Other Coverage

  • Rehabilitation therapy (physical, speech, and occupational therapy)
  • Prescription drug card benefits (mail service available for maintenance medications)
  • Vision discounts
  • Hearing aid discounts
  • Reconstructive surgery following a mastectomy

Utilization Management

  • Medical Services Advisory (pre-notify inpatient hospital stays)
  • Mental health/Substance abuse

Eligibility

Any adult can contribute to an HSA. if he/she:

  • Has coverage under an HSA.-qualified “high deductible health plan” (HDHP)
  • Has no other first-dollar medical coverage
  • Is not enrolled in Medicare
  • Cannot be claimed as a dependent on someone else’s tax return

Contributions

Contributions to your HSA. can be made by you, your employer, or both. If you make a contribution, you can deduct the contribution (even if you do not itemize deductions) when completing your federal income tax return.

Distributions

You can use the money in the account to pay for any qualified medical expense permitted under federal tax guidelines. You can use the money in the account to pay for medical expenses for yourself, your spouse, or your dependent children; even if they are not covered by your high deductible health plan.


* For more information regarding HSA regulations, visit the Treasury’s HSA Web site at www.treas.gov  (click on health savings accounts)