| The average out-of-pocket maximum paid by consumers with an HSA-compatible health plan is usually not much higher than the average plan deductible, meaning many HSA-compatible health plans often cost the same overall as traditional plans – and often less.* |
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| Advantages of HSA-Compatible health plans: |
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Affordability – With higher deductibles, HSA-compatible health plans are low rate alternatives to other Blue Shield PPO plans while still providing the quality benefits you need most. |
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Security – An HSA-compatible health plan offers the peace of mind that comes from having access to quality health care coverage. |
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Preventive benefits – Some Blue Shield HSA-compatible health plans offer preventive care services with preferred providers at no charge. |
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Comprehensive drug benefits on most plans1 – including $0 generic and brand-name coverage after meeting the deductible. |
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| Advantages of HSAs |
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Control – When you have an HSA, you make the decisions about:
- How much money you put in your HSA
- Which qualified expenses to pay, or whether to save the money
- Which company will holds the account
- How to invest the money in the account and which investments to make
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Ownership – If you decide to open an HSA, you own the money in your HSA. It rolls over year after year like an IRA (Individual Retirement Account). There are no "use-it-or-lose-it" rules. |
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Deductions – Individual contributions to your HSA are allowed as a tax deduction, even if you don’t itemize your tax returns. |
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Flexibility – HSA funds can be used to pay for current medical expenses or saved to pay for future needs such as health plan or medical expenses, even after retirement. |
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* Individual Health Insurance 2006-2007: A Comprehensive Survey of Premiums, Availability, and Benefits, America’s Health Insurance Plans, January 2008
