Horizon HSA
The Horizon HSA Plan has three main components:
- A high-deductible health plan.
- A Health Savings Account (HSA) at any financial institution of your choice.
- Tools and resources to help members make informed decisions about health care and related spending.
An HSA allows you to pay for current qualified medical expenses and to save for future qualified medical expenses on a tax-favored basis. HSAs provide triple-tax advantages: contributions, investment earnings, and qualified distributions—are all exempt from federal income tax, FICA (Social Security and Medicare) tax and state income tax (for most states). Unused HSA dollars roll over from year to year, making HSAs an easy way to save and invest for future qualified medical expenses. You own your HSA and can take it with you when you change medical plans, change jobs, or retire.
Once the deductible is met, your health care expenses are paid according to the terms of your health plan. Unused HSA funds roll over from year to year and are portable. That means you can access your HSA funds regardless of employer, age, marital status changes, future medical coverage, or state of residence.
HSA funds can be used for any of the following:
- Save for future medical expenses.
- Help bridge the gap to benefits until they meet the annual health plan deductible.
Contributions to HSAs are 100 percent tax deductible. Although HSA contributions must stop when you enroll in Medicare, you can continue to access your HSA balances. Annually, your HSA can be funded up to the lower amount of the deductible or the maximum specified by law.
Portable Benefits Coverage
The BlueCard® PPO program links you directly to care anywhere in the country and in the world. So, whether traveling or living in another state, members can take advantage of their benefits by presenting their ID cards to any participating doctor or hospital. Once enrolled, members simply carry our easily identifiable ID cards with a PPO in a suitcase logo, which lists a toll-free number to help reach a BlueCard PPO provider.
