Page 6

2018 Blue Solutions Renewal Guide

Spending accounts are a smart addition to your health plans Spending accounts give employees more control over planning and paying for qualified medical expenses to help them maximize their health care dollars. Plus, they help you and employees save on taxes. BlueSaver® HSA and HRA For employers • Tax advantages and no administrative fees* • Flexibility to choose plans that fit your budget • Easy account maintenance and online reporting • Convenient funding methods For employees • Tax advantages and no monthly account fee* • Easy access through ibxpress.com • Integration of spending accounts and health claims • Streamlined payments including debit card Choose the tax-advantaged health spending account that works best for you HSA HRA Why employers offer Most flexible option, allows employers to choose lower premium plans with higher deductibles, while giving employees a way to save for qualified health care expenses Employer owns the account, contributes tax-advantaged funds only when claims are paid, and can limit eligible expenses Compatible with HSA-qualified plans Eligible HRA plans Who owns the account Employee Employer Who funds the account1 Employer and/or employee Employer Who establishes contribution rules IRS Independence and employer Helps pay for2 Qualified medical expenses Qualified medical expenses as determined by employer and federal regulations Funds carry over Yes Employer option Portable Yes No * Some banking fees may apply. 1. Refer to page 47 for information about spending account funding requirements. 2. Refer to IRS Publication 502 for a complete list of qualified medical and dental expenses. If account funds are used for non-qualified medical expenses, they are subject to the current tax rate and may be subject to a 20 percent penalty. Independence does not provide legal or tax advice. Consult your legal and/or tax advisor for rules regarding the tax advantages of spending accounts. 5


2018 Blue Solutions Renewal Guide
To see the actual publication please follow the link above