Q. What is Blue by Design HSA?
A. The Blue by Design HSA (health savings account) is a tax-preferred way
to help pay for current or future out-of-pocket health care expenses. Any
money remaining at the end of the plan year can be rolled over into the
next year and is the property of the member. An HSA can be established
through a custodian or trustee. HSA contributions can be made by: an individual
(when purchasing his or her own health plan), an employer, an employee
or both the employer and employee. Family members also may make contributions
to an HSA on behalf of another family member as long as that other family
member is an eligible individual.
Q. What does “crossover” mean?
A. Crossover is the convenient electronic feature of Blue by Design HSA that
connects a member's providers, the member's health plan and the HSA. If
a member has crossover, claims are submitted electronically from the health
plan to the health savings account, which means less paperwork for the
member. Members also have the option of having reimbursements sent to them
as a check or deposited directly into their checking or savings account,
without completing any paperwork.
Q. What is “rollover”?
A. Rollover means that a member can carry over all or part of HSA funds to
the next year if a balance remains at the end of the current plan year.
The next year’s amount would then be added to the rolled-over amount,
giving the member more account money to help pay your deductible that year.
Check plan materials to see if rollover is available.
Q. Who can own an HSA?
A. Any "eligible individual" can establish an HSA. BCBSKS will
enroll an individual in a qualifying high-deductible health plan (HDHP) based
on the individual's representations of eligibility. An "eligible individual" means,
with respect to any month, any individual who:
It is the individual's responsibility to advise BCBSKS immediately should he or she become ineligible for an HSA or enrolls in another HSA.