We offer new integrated, enhanced Blue Cross and Blue Shield of Vermont health spending and saving products beginning January 1, 2021. For our health plans for small businesses in Vermont, we offer integrated HSA, HRA, and FSA products to allow you and your employees a seamless way to manage health care spending and savings.
Integrated CDHP Health Account Offerings
| Account Type | Description | Compatible Blue Cross and Blue Shield of Vermont QHP Plans |
|---|---|---|
Health Savings Account | Tax-deductible savings account that is used to help pay for current or future qualified medical expenses that are not reimbursed through health insurance or any other health reimbursement source (i.e. deductibles, coinsurance, vision, and dental services). To learn more, click here. |
|
Health Reimbursement Account (HRA) | An account funded by employers to pay for out-of-pocket health care expenses like deductibles, office visits, hospital stays, and prescription costs. The amount an employee uses from the HRA for qualified services is tax-free. Learn more about our HRA products. | All Blue Cross and Blue Shield of Vermont Small Group QHP plans |
| Flexible Spending Account (FSA) | An employer-sponsored benefits program offered to employees that helps them save pre-tax dollars to pay for medical or dependent care expenses. Learn more about our FSA products. | All Blue Cross and Blue Shield of Vermont Small Group QHP plans |
How it Works
1. Determine what type of account(s) you will offer and how much you will contribute.
2. Employers set-up an account with us call 866-999-2605 to get started.
3. Help your employees enroll in the qualified health plan of their choice.
- Upon enrollment, Blue Cross and Blue Shield of Vermont establishes an account for each employee that you have elected for enrollment in either the HRA or HSA and mails welcome materials to their homes.
- Employees enrolled in the HSA can transfer existing HSA balances from other administrators to Blue Cross and Blue Shield of Vermont to consolidate their savings and take advantage of other incentives.
4. Manage your account:
- Online - secure, real-time, 24/7 access to account information including claims data and status.
- Award-winning Service and Sales Support – our employer sales and services specialists are available to answer your questions, offer advice, and provide help. 866-999-2605 (Monday – Friday 9 a.m. to 6 p.m.)
More Information
- Health Spending and Saving Account Resources for Employers
To learn more about how these financial accounts could benefit you and your employees or how to set up these accounts, click here or contact our dedicated support team by calling (866) 999-2605 or email mymoneybcbsvt.sales@hellofurther.com