Blue Cross and Blue Shield of Vermont introduces new fully integrated
Consumer-Directed Health Plans
For immediate release: August 1, 2013
Contact: Elena Bertrand (802) 764-4838
Berlin - Blue Cross and Blue Shield of Vermont (BCBSVT) is pleased to announce its new fully integrated consumer-directed health plans (CDHPs), which gives employers and members simplified account management and ease of use to simplify and better manage their health care dollars.
Blue Cross and Blue Shield of Vermont has partnered with HealthEquity, Inc. to provide employers and members with integrated CDHP account services including health savings accounts (HSA), health reimbursement arrangements (HRA) and flexible spending accounts (FSA). This integration means less paperwork for employers during the enrollment and eligibility process and eliminates the need to submit paper claims for members. Account administration and management can be performed through online account access or via mobile app 24/7.
“This partnership allows employers and members to manage health care expenses and savings seamlessly,” states Ellen Yakubik, BCBSVT chief marketing executive. “Our members will have easy access to all of their health care activity and account balance information in a single, personalized place, along with the ability to shop for high-quality, cost-effective care. This is a powerful proposition that engages members to take better control of their care and maximize the value of the health care investments.”
The new integrated plans will be available to large groups on August 1 and through Vermont Health Connect, the state’s health insurance exchange for individuals and small groups effective January 1, 2014. BCBSVT product offerings on Vermont Health Connect will include integrated HRA or HSA services as part of the standard product.
"HealthEquity is honored to partner with Blue Cross and Blue Shield of Vermont in providing a fully integrated solution for consumer-directed health plans," noted E. Craig Keohan, executive vice president of sales and marketing for HealthEquity. "Together, we are able to offer a unique customer experience with powerful online tools and around-the-clock phone support, while furthering our mission to help Vermonters build health savings.”
Consumer-directed health plans provide individuals with greater choices in the care and services they receive and help manage health care costs by giving them increased financial responsibility. BCBSVT offers an array of useful online tools and information to help members make the best and most financially-sound health care decisions, including price tools, quality tools, a Pharmacy Resource Center, and tips on how to manage out-of-pocket costs for medical services and prescription drugs.
Founded in 2002, HealthEquity is the nation’s oldest and largest dedicated health savings custodian. Through efficient administration and innovative technology the company helps members build health care savings while controlling premium costs. HealthEquity works with more than 60 health plan partners and services more than 760,000 health care accounts for employees at more than 23,000 companies across the United States. To learn more, visit www.HealthEquity.com or call 1-866-346-5800.
About Blue Cross and Blue Shield of Vermont
Blue Cross and Blue Shield of Vermont is the state’s oldest and largest health insurer, providing coverage for about 190,000 Vermonters. It employs about 340 Vermonters at its headquarters in Berlin, a branch office in South Burlington and its recently opened satellite office – The Blue Cross and Blue Shield of Vermont Information and Wellness Center also in South Burlington, and offers group and individual health plans. More information about Blue Cross and Blue Shield of Vermont is available on the Internet at www.bcbsvt.com. Blue Cross and Blue Shield of Vermont is an independent corporation operating under a license with the Blue Cross and Blue Shield Association, an association of independent Blue Cross and Blue Shield Plans.