What is HSA Bank?

Who is this for?

Health Spending Accounts

Blue Cross Blue Shield of Michigan members who have an HSA-compatible plan.

A health spending account plan, also called HSA, with HSA Bank is a unique option that helps you save for current and future health care expenses. Combine your HSA with a high-deductible plan option for savings and tax advantages. 

  • Use your HSA to pay for deductibles, coinsurance, prescriptions and dental care
  • Any unused funds will roll over automatically
  • After the age of 65, funds may be withdrawn, but may be subject to income tax
  • Build on other investment options

Find out if your plan qualifies and who’s eligible to enroll by reading What’s a health savings account and how do I use it?

Enrolling in an HSA through HSA Bank

When an employer provides your HSA-compatible plan along with an HSA Bank HSA:

  • You’re automatically enrolled
  • You don’t have to do anything else except start using your HSA

How to put money in your HSA

If an employer provides your insurance, they can put money in your HSA. You can also have money taken out of your paycheck each week before taxes and deposited in your HSA. You should set that up through your employer.