Consumer Driven Health Plans for Groups
Now, you can combine the benefits of a Blue Cross and Blue Shield of Nebraska
high deductible health plan with the tax advantages of an HSA or HRA. Blue Cross
and Blue Shield of Nebraska offers high deductible health plan options for groups
as small as 2 employees.
Health Savings Accounts (HSA)
A Health Savings Account is an alternative to traditional health insurance;
it is a savings product that offers a different way for consumers to pay for
their health care. HSAs enable you to pay for current health expenses and save
for future qualified medical and retiree health expenses on a tax-free basis.
They were created to help give control back to consumers and lower healthcare
costs.
You own and you control the money in your HSA. Decisions on how to spend the
money are made by you without relying on a third party or a health insurer.
You will also decide what types of investments to make with the money in the
account in order to make it grow.
You must be covered by a High Deductible Health Plan (HDHP) to be able to take
advantage of HSAs. An HDHP generally costs less than what traditional health
care coverage costs, so the money that you save on insurance can therefore be
put into the HSA.
The following are some general features of a Health Savings Account:
- The voluntary contributions you make to your HSA will be deducted from your paycheck before taxes are calculated, which reduces your taxable income.
- Interest earned on your HSA money is not subject to income taxes — in other words, you don’t have to pay income taxes on the earnings generated by the investments in your HSA.
- You may make tax-free withdrawals to pay for qualified health care expenses.
- You own all of the money in your HSA and it is yours to keep — even if you change medical plans, leave the company or retire.
- Learn more about HSAs from the
U.S. Department of the Treasury
Blue Cross and Blue Shield of Nebraska recommends that you consider establishing
an HSA to maximize the benefits of your high deductible health plan. While you
may open a HSA with any institution of your choice, we have arranged for you
to establish your BCBSNE health plan and initiate the process of opening a HSA
with either
Mellon or
US Bank,
all in one easy step.
BluePride, our multi-option plan for groups with 2-50 employees, offers:
For HSA-eligible plan information for groups larger than 50 employees, please
call us at (402) 398-3730 or toll-free at (800) 782-8895.
Health Reimbursement Accounts (HRA)
With a Health Reimbursement Account (HRA), employers with a high deductible
health plan can set aside funds to assist their employees in paying their deductible
for health care expenses. Health care benefits are costly and an HRA is an excellent
tool to help you manage the rising costs of health care while still giving your
employees the coverage they need and deserve.
Learn more
about how to take control of your company’s health care expenses!
Online Resources
Take a look at our
health plan cost estimator.
This tool will allow you to estimate
your out-of-pocket costs and help you decide on the health care plan that best
suits your situation.
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