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Healthy Blue FSASM

How does this help my company?

Flexible spending accounts enable groups to share the cost of health care while providing flexibility for members. You establish an FSA allowing employees to set aside pre-tax money to pay for qualified medical expenses. Contributions are automatically deducted from employees' paychecks throughout the year. It is a "use it or lose it" plan — unused funds forfeit back to your company at the year-end.


Why are FSAs gaining in popularity?

Benefits to your company:

  • Provides health insurance to employees without having you shoulder the entire cost – employer and employee share the cost
  • Limits benefit expenses while maintaining health plan quality
  • Lowers health care costs via reduced federal and state payroll taxes

Benefits to your employees:

  • Employees are more aware of the cost and value of benefits and may choose how to spend their FSA dollars
  • Contributions are not subject to Social Security, state or federal income tax

How does Healthy Blue FSA work?

You choose a Blues PPO plan in conjunction with the FSA funding option. A full array of tools and options support these plans to help members manage their health care. Choices include:

  • Community BlueSM PPO + FSA
  • Flexible BlueSM PPO + FSA

BCBSM provides a fully integrated model where enrollment, billing and financial data are securely shared electronically with employees. This offers a wide range of capabilities, including:

  • Online expense manager
  • Online receipt manager
  • Automatic reimbursement option
  • Choice of direct deposit or checks for claims payments
  • Up to four free FSA debit cards
  • Consolidated enrollment process
  • Streamlined account access to FSAs through bcbsm.com
  • Integrated customer service and reporting