The Power of You
BlueSaver is our high-deductible health plan that is completely consumer directed. That means you have the power to manage your health care and get the most out of your health care dollars. Most members enrolled in BlueSaver are eligible for a personal tax-free health savings account (HSA).
HSA Benefits
An HSA allows you to set aside tax-free money for select medical expenses, such as prescription and nonprescription drugs, insurance deductibles, eyeglasses and other medical costs. After enrolling in a high-deductible plan like BlueSaver, 2009 new Internal Revenue Service rules allow you to deposit annually into your HSA on a tax-free basis up to $3,000 for an individual policy and $5,950 for a family policy. You can withdraw funds tax-free for medical expenses, and funds in the HSA account that are not used for medical expenses can accumulate tax-free from year to year until retirement. You can also withdraw funds for non-medical use; however, funds are includible in gross income and are subject to an additional tax of 10 percent. The 10 percent additional tax does not apply if the distribution is made after death, disability, or the individual attains the age of Medicare eligibility.
MySmartSaverSM
You can set up a MySmartSaver HSA that works directly with your BlueSaver benefits. MySmartSaver HSA is offered through The Bancorp Bank, an independent company that manages health savings accounts for members of Blue Cross and Blue Shield of Louisiana and HMO Louisiana, Inc. MySmartSaver HSAs offer:
- VISA branded debit card
- Check writing capabilities
- Interest-bearing account
- Investment options
- Online management tools
Learn more about MySmartSaver
