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Account-Based Plans are employer-sponsored programs that provide members the opportunity to create tax-advantaged healthcare accounts as governed by the IRS tax code. By helping members become more aware of healthcare cost, these accounts encourage members to become responsible for their healthcare decisions.
- Flexible Spending Account (FSA)- an employer-sponsored plan that allows you to set aside pre-tax money through payroll deductions for healthcare needs. With this account, any funds you do not use during the plan year you lose.
- Dependent Care Reimbursement Account (DCRA)- an employer-sponsored plan that allows you to set aside pre-tax money through payroll deductions for day care expenses.
- Health Reimbursement Arrangement (HRA)- a plan where an employer funds an account on your behalf.
- Health Savings Account (HSA)- allows a member in an HSA qualified High Deductible Health Plan to set aside funds for healthcare expenses on a pre-tax basis. Money in these accounts accrues interest and may be invested.
- Limited Purpose Flexible Spending Account (LPFSA) - an employer-sponsored plan that allows you to set aside pre-tax money through payroll deductions for limited expenses, such as dental and vision expenses.
For Additional information:
Note: Our Account-Based Plans may not be currently available with all Blue Cross and Blue Shield of Alabama plans. Contact your employer to see if any of the above products are a provided benefit.
The Tax Savings Calculator for Flexible Savings Accounts, Limited Purpose FSA (LPFSA), and Dependent Care Reimubursement Account (DCRA) is a tool to help you estimate your Health FSA and Dependent Care Account contributions and potential annual federal tax savings.
For more information on accounts administered by HealthEquity, please visit www.HealthEquity.com.
For more information regarding historical Preferred Blue Accounts please visit Preferred Blue.