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Health Savings Account (HSA)

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Benefits Coordinator Corporation (BCC) will replace Optum as the HSA administrator beginning 2021.

A Benefits Coordinator Corporation (formerly Optum) HSA is like an IRA for your healthcare that empowers you to prepare for and manage healthcare costs. HSAs offer triple tax benefits, including tax-free1 saving, growth, and spending on qualified medical expenses anytime, from today throughout your retirement — something you can’t get from other retirement accounts. HSAs complement your retirement plan, helping you prepare for the $250,000 or more that you will need for retirement medical expenses. HSAs can also be used to save and pay tax-free today for your healthcare expenses — from doctor’s visits to prescriptions, as well as dental and vision expenses.

What is the HSA referenced under the High Deductible Health Plan (HDHP) options?

  • A tax-favored account that works in conjunction with the High Deductible Health Plan (HDHP)
  • pre-tax dollars to pay for current and future eligible expenses
  • Employee biweekly contribution
  • County Contribution for 2020: 50% of deductible
  • 2020 maximum contributions:
    • $3,500 employee-only coverage
    • $7,000 Family coverage
    • 55+ Catch-up: $1,000
  • Withdraw up to the current account balance
  • Roll over of unused funds regardless of amount
  • Account portability

You can view your balance, check claim status, or submit claims by logging on to https://www.mywealthcareonline.com/bccsmartcare.

Contact BCC

800-685-6100

www.benxcel.com

 

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