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Health Savings Accounts (HSAs) and HSA-compatible health plans
To effectively sell HSA-compatible, high-deductible health plans you should know how to address objections, help alleviate concerns and share all the advantages these great plans have to offer your clients. Learn the facts about this low-cost alternative for your clients.
 
Having a Health Savings Account and HSA-compatible health plan shouldn't confuse or worry your clients.
It’s simple.  Here’s how it works: 
  • When a member enrolls in an HSA-compatible health plan, he or she is eligible to open an HSA. HSAs are opened at participating financial institutions like banks and credit unions.1 
  • Once members open an HSA, they (and/or their employer) contribute money to the account with pre-tax or post-tax contributions.
  • Members can use the money in their HSA to pay for qualified medical, dental and vision care expenses, including deductible and copayments for their HSA-compatible health plan.  Many financial institutions will provide a debit card or checkbook that can be used to pay for expenses.
  • Any money in the member’s HSA that isn’t used in a calendar year is rolled over to the following year, and the money in the account accumulates interest.
It’s that easy! 
 
Learn more ways to alleviate concerns for your clients through Demystifying HSAs and HSA-compatible Health Plans.(PDF, 118KB) 
Talk with your clients about their questions about HSAs and HSA-compatible plans.
What’s an HSA?
An HSA is a personal savings account that allows a member to pay for qualified medical, dental and vision care expenses with tax advantaged dollars. The member (or their employer) contributes money to an HSA through pre-tax or post-tax contributions. The money contributed to the account is not subject to federal income tax at the time of deposit. Funds in an HSA roll over and accumulate year after year if not spent. All money in the HSA is owned by the member.
 
Who is eligible to open an HSA?
Individuals can open an HSA if they are enrolled in an HSA-compatible health plan. 
 
What’s an HSA-compatible health plan?
HSA-compatible health plans are high deductible health plans (HDHPs) with lower premiums/dues and higher deductibles than health plans which are not HSA-compatible, and can be used with an HSA to obtain tax advantages. 

Learn more about HSAs and HSA-compatible health plans in Answering Your Questions about HSAs and HSA-compatible Health Plans.(PDF, 92KB)
 
HSA Information Center
The HSA Information Center is a consumer-facing site to provide more information about HSAs to your clients. The HSA Information Center offers valuable information and tools for consumers such as:
  • Understanding affordable health insurance options
  • Tax calculators
  • Links to HSA administrators
  • IRS regulations relating to HSAs
  • Member support
1. Although most consumers who enroll in an HSA-compatible health plan are eligible to open an HSA, members should consult with a financial adviser to determine if an HSA/HDHP is a good financial fit for them. Blue Shield does not offer tax advice or HSAs. HSAs are offered through financial institutions. For more information about HSAs, eligibility and the law’s current provisions, consumers should ask their financial or tax adviser. HSA plan features may vary by institution and may be subject to change by those institutions.
Shield Savings Plans
Learn more about IFP HSA-compatible health plans
Broker Resources
HSA-compatible health plan broker guide (PDF, 124KB)
Making the most of selling an HSA-compatible health plans (PDF, 182KB)
Top 10 reasons to choose and HSA-compatible health plan and an HSA (PDF, 107KB)
Your guide to the Shield Savings plan (PDF, 116KB)
Order these materials
Client Resources
Frequently asked questions (PDF, 476KB)
Demystifying HSAs and HSA-compatible health plans (PDF, 141KB)
Shield Savings brochure (PDF, 166KB)
Shield Savings Plans client sales sheet (PDF, 78KB)
HSA Information Center
Consumer-facing site to provide more information about HSAs to your clients
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