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Health Care Savings and Spending Accounts

Consumer-directed savings and spending accounts by Blue Cross and Blue Shield of Montana (BCBSMT) help you and your employees manage health care costs.

Health Savings Account (HSA)

How HSAs Work

  • A BCBSMT 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:
    • Tax deductions when you contribute to the employee's HSA
    • Tax free earnings for the employee through investment
    • Tax free withdrawals by the employee for qualified medical expenses
  • Funding options: It can be established with funds from the employer, from your employee or both.
  • Aggregate or embedded deductible plans available.
  • Employee owned. The funds remain with your 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.
  • Preferred pricing, integrated eligibility and claims, and online bill payments creates an integrated experience for your employees with the flexibility, control and transparency they need to make better health care choices and help keep costs low for everyone.
  • Employee ownership improves employee satisfaction.

Health Care Account (HCA)

How HCAs Work

  • An HCA is an employer-funded spending account that engages and empowers employees – they decide how their health care dollars are spent.
  • Charges for covered medical care services are first paid from this account.
  • Money spent from the HCA is also applied toward the annual deductible.
  • Unspent funds roll over from year to year. 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.
  • BCBSMT offers a substantial selection of HCA products and funding features that enable you to follow a multiyear consumerism strategy.

Have Questions?

Find the right options for your company. For more information on HSA, HCA, Flexible Spending Account (FSA) and Health Reimbursement Account (HRA) options, contact a BCBSMT account representative for details.