Groups with 2-50 Employees, HSA
Benefits
This consumer-directed health plan is an innovative way to help you manage costs and the health of your employees. It's a high deductible health plan coupled with a health savings account (HSA) to help employees pay for eligible medical expenses. You, your employee, or both of you can contribute money to the employee's health savings account each year. The account is the employee's to keep, even if he or she leaves the company or retires.
Highlights
- Tax advantages for account contributions
- Coverage for preventive care
- Employees see doctors they choose-no referrals needed
- A potential savings investment vehicle for employees
- Convenience and paper-free transactions
- Rich suite of online tools helps employees manage their care, their plan and their account
- Worldwide coverage through the BlueCard network
What is a consumer-directed benefit solution?
A consumer-directed benefit solution combines the protection of a high-deductible health plan with a financial account to help pay for medical and other eligible expenses. There are several variations of how the account is funded to offset the deductible, but employees decide where and when to spend the money in the account (based on the IRS list of Section 213(d) eligible expenses).
How does the account work?
You, your employee, or both of you contribute money to a health savings account every year. Your employee uses the money in the account to pay for eligible medical expenses. When the account is used up, the employee is responsible for the remaining amount of the deductible and out-of-pocket maximum. Unused funds in the account at the end of the year are "rolled over" and added to the next year's balance.
The account is the employee's to keep, even if that person leaves the company or retires. The employee can invest a portion of his or her unused account dollars in a variety of stocks, bonds and mutual funds once the account reaches a certain balance.
How do employees manage their accounts?
Employees have access to our online service center, myBlueCross. There, they'll find tools and health information to guide them when making decisions about health care. Questions about specific claims or account transactions can be answered by our dedicated account service representatives.
Online tools include:
- Doctor and hospital profiles and quality ratings
- Cost-of-care information
- Drug cost calculator including brand-name and generic comparisons
- Anytime access to claims information and explanation of benefits forms
- E-mail access to customer service
- Medical decision-making and personal health support
Why is consumer-directed important and why is it growing so fast?
Everyone is aware of the rising costs of health care. Businesses are struggling to maintain a quality health plan at an affordable price. There's no single solution to the problem, but there is agreement that putting more responsibility for health care into the hands of the people who actually use it is a good start. A consumer-directed plan not only gives people more say in their health care, it raises awareness of the actual cost of visits and procedures. That kind of attention will lead to a healthier, more informed consumer and, ultimately, to lower costs for everyone.
One reason for the growing popularity of consumer-directed plans is because it provides employers with an attractive alternative. Employers no longer have to raise an employee’s contribution to the premium, reduce benefits, or eliminate the health plan altogether. Consumer-directed plans also provide tax advantages for employers and employees.
How will I communicate this concept to employees?
Because this may be a new way of thinking for employees, we've created a number of tools to educate, engage and encourage them. Your employees may receive:
- Open enrollment materials that provide a broad overview through tools including a health care planning guide
- Member engagement CD-ROM that includes communication tools that you can use throughout the year to educate employees about health care costs
- Our online preview, bluecrossmn.com/servicecenter/tour, that gives your employees a sneak-preview of the screens they'll be using to manage their health plan
- Our member guide that reviews all the components of Options Blue at a deeper level and provides contact information for further assistance. Employees receive this once they enroll in Options Blue.
- MyBlueCross, our online member service center, where employees can manage their health, benefits and accounts
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