HSA Plan

A high-deductible medical plan with a tax-free Health Savings Account. This medical plan offers you a choice of medical care providers similar to a traditional PPO plan and provides in- and out-of-network benefits. BMC matches employee HSA contributions up to $1,100. The match you receive depends on your annual base salary and who you cover. For employees with an an annual base salary of $75,000 or less, BMC seeds (contributes money to) to their HSAs with $400, $200 in January and $200 in July. Unused money in your HSA rolls over from year to year for you to use for future health expenses. Prescription drug coverage is provided through Prime Therapeutics.

Please note: You are eligible for BMC matching contributions to your HSA if you are actively employed by BMC on the date the company contribution is deposited to your HSA.

The money in your HSA always belongs to you. If you retire or leave BMC, your account goes with you.

You can also make your own before-tax contribution into your HSA account through payroll deductions or with a personal check deposit. The IRS limits total annual contributions (employee and employer) to an HSA; the limit in 2024 for employee-only coverage is $4,150 and $8,300 for all other coverage. If you are age 55 or better at any time during the year, you can contribute an addition  $1,000 to your HSA.

If you elect both payroll deductions and make a personal check deposit into your HSA, and that results in you exceeding the annual limits, BMC will not automatically turn off your payroll deductions. You are responsible for monitoring the balance in your HSA and contacting Fidelity to discontinue regular payroll deductions.

The money in your account is always yours to keep, and it’s up to you to decide whether you want to use your HSA to cover day-to-day health care expenses, as a savings vehicle for the future, or a combination of both.

The HSA can be either an effective way to save for retirement medical expenses or a means to cover the medical and prescription drug deductible and coinsurance today. The choice is yours.

Your HSA Account

When you enroll in the BCBSTX HSA Plan, BMC sets up on your behalf an HSA account through Fidelity. You will receive an HSA welcome kit along with your debit card when the account opening process is complete. Fidelity will need additional information from you in order to open the account (verification of birth date, Social Security number or other information). You will receive notification via email and mail at your home address from Fidelity that additional information is needed. If you do not respond to this request within 60 days, your HSA account will automatically close, and you will be ineligible to make your own contributions or receive company matching contributions or the HSA seed.

Once your account is open, BMC will match your contributions each pay period. If you are eligible for the $400 BMC seed, BMC will deposit $200 in your account in January and $200 in July.

One of the main advantages of the BCBSTX HSA Plan is the opportunity to save any unused dollars in your account. If you don’t spend all the money in your account during the year, the balance rolls over into the next year and is added to any future amount you elect to contribute.

Your HSA will earn interest at competitive money market rates and be credited each month. You can start investing your HSA at any time into a money market sweep account or select mutual funds with no minimum balance required. Complete information about your account, investment options, fees and legal considerations can be found on the Fidelity NetBenefits website.

For more information, read IRS Publication 969—Health Savings Accounts and Other Tax Favored Health Plans.

Eligible Expenses Under Your HSA

You can use your HSA for qualified health-related expenses as allowed by the IRS. Some expenses may not be covered by your health plan but are considered “eligible expenses” for payment with HSA dollars. Some typical examples include:

• Medical deductibles
• Diagnostic services not covered by your plan
• Dental and vision care not covered under an insurance plan
• Braces
• Long-term care premiums
• LASIK eye surgery
• Some nursing services
• Health care supplies
• Certain classes of over-the-counter drugs with a prescription

Easy Access to Your HSA

You will receive a NetBenefits AccessCard card that allows easy access to your HSA funds. You can use the debit card to pay for all legitimate, permitted medical expenses under federal law. The choice of when and how to use the HSA debit card—or not to use it at all and let your HSA funds accumulate—is entirely up to you. You can also track your account balance, transfer funds to your personal checking account, and view deposit activity and interest earnings on the NetBenefits website. If you contribute to a Limited Use FSA, you will use this same debit card to pay out-of-pocket expenses from this account. View your Health Savings Account online at the Fidelity NetBenefits  website.

Using the NetBenefits AccessCard

You have the option of using your card as “credit” or with a Personal Identification Number (PIN) if your merchant accepts PIN transactions. To set up a PIN, call 1-833-811-7432 or visit fidelitydebitcard.com. You will be required to provide your card number, ZIP code, and three-digit security code located on the back of your card. After providing the information, you will be asked to select a four-digit PIN of your choice.