Flexible spending accounts (FSAs) and health savings accounts (HSAs) allow you to save on
eligible expenses by paying for them with pre-tax dollars. The accounts you are eligible to
participate in depend on your medical plan coverage, as you can see below.
||Accounts You Can Use
|BCBS Core Plan (PPO)
|BCBS Consumer Choice Plan (CDHP)
(Limited FSA only)
|Kaiser Core Plan (HMO)
|No medical plan
Advantages of the HSA.
are several powerful reasons to contribute to an HSA:
- You save on taxes. Read more.Read less.
- Pre-tax contributions. Money that goes into your account
(your and Boston Scientific’s contributions) isn’t taxed as income. For
example, at a 28% federal income tax rate, every $1,000 contributed to the
HSA reduces your federal income taxes by $280.
- Tax-free earnings. Interest and investment earnings on
your account aren’t taxed.
- Tax-free distribution. Money used to pay for eligible
medical expenses isn’t taxed.
- You’re in control. Read more.Read less.
You decide how much to contribute and when to spend (or save) your HSA dollars.
Any unused money remaining in your account at the end of the plan year rolls
over for you to use now or save for the future. Protect your HSA balance by
naming a beneficiary using the HealthEquity website or mobile app.
- You can invest the money to help it grow. Read more.Read less.
Once your HSA balance reaches $2,000, you can invest in a number of investment
options. Learn more by visiting HealthEquity.
- Making payments is easy. Read more.Read less.
With all your prescription and medical invoices automatically loaded into the
HealthEquity system, paying bills directly from your HSA is quick and simple.
- You can take it with you. Read
If you leave Boston Scientific, or retire, you take your HSA funds with you to
use for qualified health care expenses—it’s immediately yours to keep.