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.

Medical Plan Accounts You Can Use
  Health Care FSA Dependent Care FSA Health Savings Account
BCBS Core Plan (PPO)  
BCBS Consumer Choice Plan (CDHP)
(Limited FSA only)
Kaiser Core Plan (HMO)  
HMSA  
No medical plan  

Advantages of the HSA.

There are several powerful reasons to contribute to an HSA:

  1. You save on taxes. Read more.Read less.
    1. 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.
    2. Tax-free earnings. Interest and investment earnings on your account aren’t taxed.
    3. Tax-free distribution. Money used to pay for eligible medical expenses isn’t taxed.
  2. 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.

  3. 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.

  4. 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.

  5. You can take it with you. Read more.Read less.

    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.