What is a health savings account (HSA)?
A health savings account*, or HSA, is a savings account that belongs to you and gives you more flexibility and control over your healthcare dollars. You can set aside money in your HSA to pay for qualified health expenses, which may have tax benefits for you. Your employer can also contribute to your HSA under certain arrangements.
HSAs are always paired with a qualified high-deductible health plan (HDHP), like BlueSaver or with eligible health plans like our Select Network options. That means you must sign up for a certain type of health insurance plan in order to be eligible to set up an HSA.
MySmart$averSM
Start Saving with an HSA and get rewarded.
Save on premiums.
Eligible health plans and HDHPs offer the lowest premiums, enabling you to unlock immediate savings. Some of the money you will save on premiums can go into your HSA instead - as long as you follow a few guidelines.
Traditional Plan
Higher monthly premiums
High-Deductible or Eligible Health Plan
Lower monthly premiums
Health Savings Account
The money is yours.
Know your limits.
Minimum annual deductible |
Contribution limits |
Out-of-pocket maximum |
|---|---|---|
| Single: $1,750 | Single: $4,500 | Single: $8,700 |
| Family: $3,500 | Family: $9,000 | Family: $17,400 |
Minimum annual deductible |
Contribution limits |
Out-of-pocket maximum |
|---|---|---|
| Single: $1,700 | Single: $4,400 | Single: $8,500 |
| Family: $3,400 | Family: $8,750 | Family: $17,000 |
What are qualified medical expenses?
Ambulance
Dental
Nursing
Optometrist
Drugs
Transplant
What is an HSA
Everything to know about HSAs
How to maximize your HSA contributions
*HealthEquity, Inc. is an IRS authorized non-bank custodian of HSAs, and the preferred HSA custodian for eligible Louisiana Blue members enrolled in our high deductible health plans. Members who qualify may open an HSA with any HSA trustee or custodian and should seek guidance from a tax professional or financial advisor. See IRS Publication 969 for more about HSAs. Blue Cross and Blue Shield of Louisiana and HealthEquity are not engaged in rendering tax, legal or investment advice.
**The $25 contribution is a one-time promotional offer. Eligibility requirements apply. Only available to new HealthEquity HSA account holders who meet all promotional requirements. If you currently have active HDHP coverage: To receive the match, you must contribute $25 or more to your HSA within 180 days of opening the account and maintain a minimum balance of $25 and keep your account in good standing for at least 90 days after opening the account. If your HDHP coverage hasn’t started yet: You may qualify for HSA contributions on or after your plan’s effective date. To receive the match, you must contribute $25 or more no later than 180 days after your plan’s effective date and maintain a minimum balance of $25 and keep your account in good standing for 90 days after your plan’s effective date. For more information visit: www2.healthequity.com/partners/enrollment/lablue/.