What is a ConsumerDirect HSA?

A ConsumerDirect HSA solution has three components

The cost of healthcare has continued to increase over the past several years. The EmblemHealth ConsumerDirect Plan is designed to help companies and individuals control the cost of healthcare. A ConsumerDirect HSA solution includes three components, a qualified High Deductible Health Plan (HDHP), a Health Savings Account (HSA), and a comprehensive health and wellness program.

A qualified High Deductible Health Plan

An HDHP is a health insurance plan that may offer lower premiums in exchange for a higher deductible. Ask your Benefits Administrator whether your company has a PPO (Preferred Provider Organization) HDHP, which includes in-network and out-of-network benefits, or an EPO (Exclusive Provider Organization) HDHP, which offers in-network benefits.

An individual Health Savings Account

An HSA works with a qualified HDHP to help you save for medical expenses incurred before your deductible is reached. You can fund an HSA with pre-tax or tax-deductible contributions. The money saved in your HSA accumulates without tax. HSA withdrawals are also tax-free as long as the money is used for qualified medical expenses. State taxes may vary.

Your HSA rolls over year after year

There are no "use it or lose it" rules with an HSA. Any money left in your account automatically rolls over year after year and continues to grow tax-free. State taxes may vary. You can use your HSA money for any current or future qualified medical expenses, or expenses incurred during retirement. The HSA portion of your ConsumerDirect Plan is portable and goes with you if you leave your employer. Your HSA is always yours!