The Lumenos HSA Plan from Blue Cross of California
How does getting extra money from the government sound?
With the Blue Cross Lumenos HSA Plan, any money you deposit in your HSA reduces your taxable income ı so you pay less in taxes. And once youıve met your planıs deductible, youıll enjoy 100% insurance coverage on many of the most common healthcare expenses. And yes, you can use those tax-advantaged dollars to pay your deductible.
What Is an HSA?
A Health Savings Account is a special bank account that helps you pay for healthcare. By enrolling in an HSA-compatible health plan ı such as the Lumenos HSA Plan ı you have the option of opening a Health Savings Account. By both enrolling in the health plan and opening the account, youıre eligible for a special tax deduction. When you make contributions to your HSA, youıre taxable income is decreased by the amount you deposit. That means you pay less in taxes ı itıs like the IRS is chipping in to pay for your healthcare.
The Lumenos HSA Plan meets all Federal guidelines, letting you take advantage of some of the best tax advantages in the Federal code. Some highlights of Health Savings Account include:
- You can fund your Health Savings Account up to $2,850 as an individual, or $5,650 for two or more people. Your taxable income is reduced by the amount that you deposit in that year ı so you owe less in taxes.
- The money in your HSA will build interest. What happens if you donıt use the savings in your account? It grows. Your savings rolls over each year.
- You can use your HSA funds for almost any healthcare cost, from cough syrup to doctorıs bills to dentist ı and even for your deductible.
- As long as itıs spent on a health expense, the money you withdraw from it wonıt be taxed.
One of the nicest things about a Health Savings Account is that you can use your HSA funds to pay for almost anything related to healthcare. This includes your health plan deductible, prescription drugs ı and things that no health plan will cover, such as cold medicine or bandages.
To qualify for an HSA, you have to enroll in a high-deductible health plan, or HDHP. Your health plan deductible has to be at least $1,100 to be considered an HDHP.
Why Choose The Lumenos HSA Plan?
Lumenos isnıt the only HSA-compatible plan on the market. But what makes it special is the comprehensive coverage it provides.
Many HSA plans give you the tax advantages, but leave you responsible for most of your expenses. With Lumenos, you get full coverage on a variety of healthcare services once youıve paid your deductible.
You can choose your deductible, too. For individual plans, you can set your deductible at $1,500, $2,500, $3,000, or $5,000. For family plans, your deductible can be $3,000, $5,000, $6,000, or $10,000. But remember: the higher you set your deductible, the lower your monthly premiums will be.
There are two other Lumenos plans available: Lumenos HIA and Lumenos HIA Plus.
Which one is right for you? Get an instant online quote and find out now. |
