The preventive health care services flier is ready
You can now order printed copies of the preventive health care services flier for employers and members.
Based on the health care reform law and guidelines related to the law prepared by the Blue Cross and Blue Shield Association and America's Health Insurance Plans, we expanded the list of services we cover. We've created a helpful flier with all the details.
Contact your account representative to get your copies today.
How health care reform is changing health care spending accounts
The health care reform law is affecting the following health care spending accounts:
- Health care flexible spending account (FSA)
- Health reimbursement arrangement (HRA)
- Health savings account (HSA)
- Archer medical savings account (MSA)
The changes can be seen in two major areas:
Tax penalty increase for nonmedical HSA and MSA distributions
Money removed from an HSA or MSA and not used on qualified medical expenses will be taxed 20%. That's an increase of 10%. This change begins for disbursements made during tax years starting on or after January 1, 2011.
Prescriptions required for reimbursement of over-the-counter (OTC) drugs
Members can use health care spending account funds for OTC medicine or drugs as long as they have a prescription written by a doctor in the state where the medicine or drugs are purchased. This rule does not apply to insulin. This change starts January 1, 2011, for all plans regardless of the plan year dates.
Review our detailed fact sheet on these changes to learn more.