Health Savings Account (HSA)

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What is a Health Savings Account (HSA)?

Health Savings Accounts (HSAs) -- made available to consumers with the passage of the Medicare Modernization Act of 2003 – allow employers, employees and anyone else to contribute money to an account (the HSA), which an eligible individual uses to pay for qualified medical expenses until the deductible is reached.  
Once the deductible is met, the individual’s health expenses are paid according to his or her health plan. The tax-advantaged accounts also permit unused funds to be “carried over” from year to year even if the employee changes employers. Any interest gained from the HSA belongs to the individual. Anyone who uses an HSA must also maintain health care benefits through a compatible high-deductible health plan (HDHP).  
Anthem Blue Cross and Blue Shield (Anthem) has aligned with JPMorgan Chase Bank (Chase), a global leader in the development of electronic payments solutions, to make it easy and convenient for members to establish and use a Health Savings Account (HSA).  
Anthem’s product, Anthem ByDesign HSA, offers an Anthem HDHP coupled with a Chase account that allows consumers to use checks and debit cards to pay for qualified medical expenses out of the HSA.  
Still want more information about HSAs and how they work? Download an educational presentation or view a live demo.
Confused about health savings options? View a chart that compares HSAs, FSAs, PCAs and MSAs.
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Anthem Blue Cross and Blue Shield is the trade name of: In Colorado Rocky Mountain Hospital and Medical Service, Inc. HMO products underwritten by HMO Colorado, Inc. In Connecticut: Anthem Health Plans, Inc. In Indiana: Anthem Insurance Companies, Inc. In Kentucky: Anthem Health Plans of Kentucky, Inc. In Maine: Anthem Health Plans of Maine, Inc. In Missouri (excluding 30 counties in the Kansas City area): RightCHOICE® Managed Care, Inc. (RIT), Healthy Alliance® Life Insurance Company (HALIC), and HMO Missouri, Inc. RIT and certain affiliates administer non-HMO benefits underwritten by HALIC and HMO benefits underwritten by HMO Missouri, Inc. RIT and certain affiliates only provide administrative services for self-funded plans and do not underwrite benefits. In Nevada: Rocky Mountain Hospital and Medical Service, Inc. HMO products underwritten by HMO Colorado, Inc., dba HMO Nevada. In New Hampshire: Anthem Health Plans of New Hampshire, Inc. In Ohio: Community Insurance Com pany. In Virginia: Anthem Health Plans of Virginia, Inc. trades as Anthem Blue Cross and Blue Shield in Virginia, and its service area is all of Virginia except for the City of Fairfax, the Town of Vienna, and the area east of State Route 123. In Wisconsin: Blue Cross Blue Shield of Wisconsin ("BCBSWi"), which underwrites or administers the PPO and indemnity policies; Compcare Health Services Insurance Corporation ("Compcare"), which underwrites or administers the HMO policies; and Compcare and BCBSWi collectively, which underwrite or administer the POS policies. Independent licensees of the Blue Cross and Blue Shield Association. ® ANTHEM is a registered trademark of Anthem Insurance Companies, Inc. The Blue Cross and Blue Shield names and symbols are registered marks of the Blue Cross and Blue Shield Association. Use of the Anthem Web sites constitutes your agreement with our Terms of Use