Preferred Blue Accounts 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.
- Preferred Health 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.
- Preferred Dependent Care Account (DCA)- an employer-sponsored plan that allows you to set aside pre-tax money through payroll deductions for day care expenses.
- Preferred Health Reimbursement Arrangement (HRA)- a plan where an employer funds an account on your behalf.
- Preferred 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.
- Preferred Health Limited Flexible Spending Account (LFSA) - 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.
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Note: Our Preferred Blue Account Programs are not 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.