Healthy Blue FSASM
What is a flexible spending account?
With a flexible spending account, your employer allows you to set aside part of your paycheck on a pre-tax basis to pay for qualified health and dependent care expenses. Contributions are not subject to Social Security, state or federal income tax.
How does Healthy Blue FSA work?
Your employer chooses a Blues PPO plan in conjunction with the FSA funding option. A full array of tools and options support these plans to help you manage your health care. Choices include:
- Community BlueSM PPO + FSA
- Flexible BlueSM PPO + FSA
You determine at the beginning of the plan year how much of your pay to set aside for the FSA. Your employer determines minimum and maximum contribution amounts. This money is then available on the first day of coverage. FSAs are subject to the "use it or lose it rule," which means any unused funds at the end of the plan year are returned to your employer. Your employer may offer up to a 2½-month grace period after the end of the plan year for you to use any remaining funds
The money in your FSA is usable for qualified medical expenses for you, your spouse or your dependent children. A partial list of qualified expenses is below:
- Ambulance service
- Annual physicals
- Body scans
- Birth control pills
- Contact lenses
- Dental services
- Lab fees
- Stop smoking plans