Our HSA and Direct HCA are spending accounts that, when combined with a PPO, help employees pay for medical expenses and meet the annual deductible.
A Health Savings Account (HSA) is a tax-exempt account available to employees covered by a high-deductible health plan. Contributions, potential interest gains and distributions (when used for qualified medical expenses) are tax free. Deposits to the account can be made by the employee, the employer or both. Unspent funds in the account roll over year to year. The account is portable, which means it belongs to the employee even if he or she changes jobs, leaves the plan or retires.
A Health Care Account (HCA) is funded by the employer and helps members meet the deductible and pay for health care expenses. Members must pay their portion of the deductible each year before HCA funds can be used. PPO-eligible expenses count toward the deductible.
Our spending accounts come in varied design options. Prescription drugs are covered at the medical coinsurance benefit noted in the chart.