THE POWERFUL

SOLUTIONeasyFSA&

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INTEGRATEDflexiblespending accountsFSAs

Blue Cross Blue Shield of Massachusetts is an Independent Licensee of the Blue Cross and Blue Shield Association.

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FSA contribution limitsThe IRS has set the limit for healthcare FSA contributions to $2,750 per person. (See publication 969) However, employers can decide to decrease this limit if desired.

Blue Cross and Blue Shield of Massachusetts (BCBSMA) and HealthEquity together deliver an integrated approach to flexible spending accounts (FSAs) with easy enrollment, less paperwork, and hassle-free payments/reimbursements.

It also means simplified account management; online tools, resources and education; plus the dedicated service and support that distinguishes our offerings.

flexible spending accountsAn integrated approach to

HOW FSAs WORK:An FSA is an employer-sponsored benefits program that enables employees to deduct pre-tax dollars from their paychecks to pay for qualified medical expenses. At the beginning of each plan year, employees can elect to have a certain portion of their pre-tax income contributed to fund their FSA. Because FSAs are employer-sponsored, an employee has access to the entire year’s funds on the first day of the year. Employees must use FSA funds within the plan year. However, the plan can provide for either a grace period or a carryover up to $500. Any unused funds are returned to the employer at the end of the year.

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OUR ADVANTAGE

Helpful support for our members is available every hour of every dayOur team of specialists based in Salt Lake City are available 24 hours a day, providing members with the tools and information they need to optimize their FSAs.

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Easy execution Complete data integration between HealthEquity and BCBSMA enables easy execution before, during and after enrollment.

Powerful resources Dedicated support and education for partners through HealthEquity’s employer support team, employer web portal and other tools.

Convenience Employers and members benefit from proprietary web capabilities featuring online payments and integrated claims data.

Compelling insight We understand healthcare consumers and speak effectively to their values and experiences. Our tailored communications provide a clear, positive message that engages employees and increases understanding.

As experienced partners of integrated health accounts, BCBSMA and HealthEquity offer a unique customer experience that is powerful and easy. As your partners, we deliver:

Account mentors

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• Medical plan• Pharmacy benefits• Dental• Vision

• Transparency tools• Payroll• Group setup

FLEXIBLE INTEGRATION

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The unique relationship between BCBSMA and HealthEquity allows for true data integration. Unlike most other health account administrators who claim to have

“integration,” our solution is complete yet flexible. Our proprietary technology allows claims, eligibility and other data to be imported directly into our flexible system. This results in a smooth experience with less paperwork and powerful tools.

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Healthcare FSA Funds from a healthcare FSA can be used for qualified expenses including medical, dental and vision. For a full list of qualified expenses allowed by the IRS, see IRS Publication 502.

Dependent care FSA or DCRA A dependent care FSA enables employees to set aside pre-tax dollars to pay for qualified dependent care expenses. Funds can be used to pay for day care, preschool, elderly care or other dependent care. See IRS publication 503 for additional details.

Limited-purpose FSA (LPFSA) Used in conjunction with a health savings account (HSA), an LPFSA allows employees to contribute additional pre-tax dollars to use for dental and/or vision expenses. This allows users to maximize their pre-tax contributions to an HSA and contribute additional pre-tax dollars to an LPFSA.

Post-deductible FSA (PDFSA) PDFSAs can be used for eligible medical expenses once a specified minimum deductible has been met. For those who also have an integrated HSA, HealthEquity uses a proprietary claims process to automatically accumulate towards the deductible.

FSA OPTIONSHealthEquity offers different types of flexible spending accounts addressing the various needs of employers and their employees:

It is the member’s responsibility to ensure eligibility requirements as well as if they are eligible for the plan and expenses submitted. One should consult a tax advisor as individual factors and situations vary.

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HealthEquity receives group application

PREPARATION

INTEGRATION

GO LIVE

TIMELINE

We’ll take you there.

HealthEquity’s streamlined process makes implementing FSAs easy for employers. Our proprietary technology and knowledgable implementation team ensure a smooth launch, with three easy phases:

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3. GO LIVE

1. PREPARATION 2. INTEGRATION

BCBSMA sends group setup to HealthEquity and the employer portal is created

HealthEquity creates individual accounts for each employee

Employer welcome communication is sent

HealthEquity sends welcome materials to employees

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BCBSMA sends employee FSA eligibility and elections to HealthEquity

Employer sends employee health plan enrollment to health plan

Employer selects BCBSMA health plan with HealthEquity FSA

Copyright © 2019 HealthEquity, Inc. All rights reserved.

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Offer the HealthEquity advantage today.Maximize your benefits offerings with an FSA. To get started, contact BCBSMA representative or call HealthEquity at:

Let’s go!

866.382.3510

Copyright © 2019 HealthEquity, Inc. All rights reserved.

BCBSMA_Integrated_FSAs_ER_Dec_2019

HealthEquity mobile app1 available for FREE at:• Apple® App Store® • Google PlayTM

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15 West Scenic Pointe DriveDraper, UT 84020info@healthequity.com | www.HealthEquity.com

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