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Health Savings Account

What is a health savings account (HSA)?

A health savings account*, or HSA, is a savings account that belongs to you and gives you more flexibility and control over your health care dollars. You can set aside money in your HSA to pay for qualified health expenses, which may have tax benefits for you. Your employer can also contribute to your HSA under certain arrangements.

HSA is always paired with a qualified high-deductible health plan (HDHP), like BlueSaver. That means you must sign up for a certain type of health insurance plan with a high deductible in order to be eligible to set up an HSA.

 Health Savings Account High-Deductible Health Plan (HDHP)


If you are a high-deductible health plan member, consider opening a MySmart$aver HSA administered by HealthEquity*. An HSA like MySmart$aver allows you to set aside money for qualified health expenses and also works directly with your high-deductible health plan benefits.

Save on premiums.

As a tradeoff for the higher deductible, these HDHPs have a lower monthly premium than "traditional" plans, like PPOs or HMOs. Some of the money you will save on premiums can go into your HSA instead -- as long as you follow a few guidelines.


Traditional Plan

Higher monthly premiums


High-Deductible Health Plan    

Lower monthly premiums

Health Savings Account



The money is yours.

All of the funds in your HSA, including any contributions your employer makes, is yours. It stays yours, even if you leave your job, leave your qualifying health plan or retire. In other words, an HSA is not a "use-it-or-lose-it" type of account. For this reason, many people use the HSA as an additional savings and investment account for retirement. 

Know your limits.

It is important to know how much you can contribute to your HSA. If you contribute too much in a calendar year, the extra funds could be taxed. Below are applicable contribution limits:


Minimum annual deductible

Contribution limits

Out-of-pocket maximum

Single: $1,400 Single: $3,650 Single: $7,050
Family: $2,800 Family: $7,300 Family: $14,100


Minimum annual deductible

Contribution limits

Out-of-pocket maximum

Single: $1,500 Single: $3,850 Single: $7,500
Family: $3,000 Family: $7,750 Family: $15,000

What are qualified medical expenses?

Visit HealthEquity's Qualified Medical Expenses Database to learn what qualifies. 







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*HealthEquity, Inc. is an IRS authorized non-bank custodian of HSAs, and the preferred HSA custodian for eligible Blue Cross members enrolled in our high deductible health plans. Members who qualify may open an HSA with any HSA trustee or custodian and should seek guidance from a tax professional or financial advisor. See IRS Publication 969 for more about HSAs. Blue Cross and Blue Shield of Louisiana is not engaged in rendering tax, legal or investment advice.