Personal Comp Member Handbook - CareFirst BlueCross BlueShield

Health Savings AccountHow do I contribute to my HSA?You can make contributions to your HSA at anytime,up to the allowable amount determined by the IRS.Are there limits to how much I can contributeto my HSA?The IRS stipulates that your plan year HSA fundingcan be no more than $3,000* if you have individualcoverage and $5,950* if you have family coverage. Theseamounts may be adjusted each year by the IRS. Foradditional information, you can visit the IRS web siteat: www.IRS.gov or call (800) 829-3676.How are my medical and prescription drugclaims paid?When visiting your doctor, lab or urgent carefacility, you will likely be charged your normal pervisit copayment or any portion of your benefit yeardeductible that has not yet been satisfied. Your providerwill then submit a claim to CareFirst for benefitsconsideration. If you have not already met your benefityear deductible, the claim will be processed and abenefit determination will be sent to you and to theprovider. The provider will in turn seek any remainingpayments from you. You will be responsible for the costof your medical services until you meet your deductible.These expenses can be paid out of your HSA by usingyour HSA debit card or checks. By seeking services fromPreferred Providers, your responsibility will be limitedto the discounted amount or plan allowance that ourproviders agree to accept as payment in full. Yourpharmacist will charge you CareFirst’s discounted costfor prescription drugs until you reach your benefit yeardeductible. These expenses can also be paid directlyfrom your HSA using your debit card or checks.Since prescription deductible information is automaticallytransmitted to CareFirst so that we may efficiently trackyour deductible balances, it is important for you to pickup your prescription drugs from the pharmacy as soonas possible. Pharmacies have their own guidelines forreturning medications back to their inventory stock. Ifthe pharmacy returns your prescription drugs to theirinventory stock, any applicable deductible will be retracted.Each of these deductible and retracted deductibletransactions will be recorded on your HSA account.What happens when HSA funds have been exhausted?If you use all the money in your HSA before meetingyour annual deductible, you will then be responsiblefor a limited out-of-pocket amount, called the “Bridge.”The Bridge is the difference between the amount inyour HSA and your deductible.The amount of money you and/or your employer havecontributed to your HSA will determine how much of a“bridge” you have before your Personal Comp coveragebecomes available.Who is eligible to participate in an HSA?To be eligible to enroll in a Health Savings Account,you must be covered by a high deductible health plan(HDHP), such as Personal Comp HSA.To enroll in a health savings account,you cannot be:■ covered by any medical plan other than ahigh deductible health plan (dental andvision are not included in this restriction);■ enrolled in Medicare Part A orPart B; or■ claimed as a dependent on anotherindividual’s tax return.How can I track my health benefits?The more you know, the better you can manage yourhealth care needs. With a CareFirst Personal Comp HSAyou can tap into the power of the Internet to help youmanage your benefits.CareFirst online tools, available at www.carefirst.com, allow you to:■ Check the status of a claim■ Compare hospitals■ Compare prescription drug costs■ Request a member ID card■ Confirm or review eligibility■ Find a doctor■ Access health and wellness informationYour HSA funds are available to pay for qualified healthcare expenses covered under your CareFirst BlueCrossBlueShield Personal Comp coverage.*This amount applies to year 2009 only.12