Account-Based Health Plans

Account-Based Health Plans

Account-based health plans (ABHP) are specially designed health plans that can be wrapped with a tax-advantaged account. 

2024 Summary of Benefits for Account-Based Health Plans.

Employer groups who select our integrated model for their ABHPs will have access to online resources and 24/7 customer service – plus a powerful set of additional tools.

When considering our online services for employers and employees, a dedicated ABHP service team, and the variety of plans to choose from, it's easy to see how Blue Shield's programs come together to deliver a comprehensive ABHP platform.

Benefits of account-based health plans accounts

• Health Savings Account (HSA) – HSAs work with lower-premium, higher-deductible medical plans; unused funds accumulate in the HSA account year to year. Because it's employee-owned, the account stays with the employee even if they change jobs, retire, or leave employment.

• Health Reimbursement Account (HRA) – Unlike HSAs and FSAs, HRAs are owned and funded by the employer.

• Health Incentive Account (HIA) – HIAs are new account-based options designed for the employee to solely earn funding for healthcare expenses by participating and completing a health rewards program. They can be sponsored by Blue Shield or the employer.

• Flexible Savings Account (FSA) – FSAs can be paired with any Blue Shield medical plan and offer a tax-free way for employees to save for qualified expenses during a single year. FSAs can be paired with any health plan or used alone. Funds expire if not used by the plan year-end.

• Limited Purpose Flexible Savings Account (LPFSA) – LPFSAs are used for dental and vision expenses and can be offered alongside HSAs administered by HealthEquity.

HealthEquity: An integrated model

We are pleased to power our programs with HealthEquity's premier technologies which provide superior customer support, tools and account administration. This relationship delivers simplified account management and online resources to help employers and employees better manage their money for healthcare expenses.

Blue Shield's vendor, HealthEquity*, delivers a 24/7 platform to manage members' tax advantaged accounts, offering a dedicated website for account management so clients can:

• Make timely payments

• Update employee information quickly

• Print contribution and key reports

• Help employees take advantage of their benefits

Plus Health Equity provides:

• A single sign-on website to manage their healthcare needs

• A debit card for pharmacy and other qualified purchases

• A smart pay portal for providers

Learn more

Download our flier to learn about the advantages of pairing a high-deductible health plan from Blue Shield of California with an integrated health savings account from HealthEquity.

To learn more about Blue Shield ABHP compatible health plans and how they can benefit your clients, contact your Blue Shield representative. For additional information and ABHP materials, please visit the Blue Shield/Health Equity resource site at http://www.healthequity.com/bscsales.