HSA Plan Options for Your Group
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Overview
Your HSA plan determines the rate of interest you can accrue on your HSA balance and also any monthly participant fees you must pay for your account. Some employers will choose the HSA plan type for their group and will not let employees change to a different plan type. If you are not sure whether you can choose your own plan, check with your employer or benefits administrator.
Choosing a health savings account (HSA) is an important step in managing your employees' current and future health care expenses. This unique, tax-advantaged account gives your employees the flexibility, security and control necessary to meet changing health care needs.
Which will you choose?
BCBS Vermont Premium HSA
Highest interest rate available with an investment option.
BCBS Vermont Value HSA
Low fee account with an investment option.
BCBS Vermont Select HSA
FDIC insured account with an investment option.
All plans may not be available to some groups. Please contact us for more information.
No Hidden Fees
While other HSA administrators have complex fee structures, Blue Cross and Blue Shield of Vermont does not charge for the following:
- Account opening or closing fees: $0
- Debit cards: $0
- Replacement debit cards: $0
- Over contribution fee: $0
- Contribution return fee: $0
- Stopping payment fee: $0
Account Credit Rates
As you compare HSA programs, be sure to ask how interest is calculated. Blue Cross and Blue Shield of Vermont keeps it simple so your employees earn the stated rate on the entire account balance. Some banks pay interest based on the balance and rate in each balance tier.
Interest rates and balance tiers are subject to change without notice.
| Base Balance | |||||
|---|---|---|---|---|---|
|
Plan Type |
$0-$2,499 |
$2,500-$9,999 |
$10,000-$14,999 |
$15,000-$24,999 |
$25,000+ |
| BCBS Vermont Premium HSA | 0.35% | 0.45% | 0.50% | 0.60% | 0.70% |
| BCBS Vermont Value HSA | 0.05% | 0.10% | 0.10% | 0.15% | 0.20% |
| BCBS Vermont Select HSA* | 0.05% | 0.07% | 0.07% | 0.10% | 0.10% |
Interest rates effective as of June 1, 2020.
*The BCBS Vermont Select HSA is FDIC insured.
Investment Account Options
|
Account type |
Available funds |
Annual account service fees* |
|---|---|---|
|
Base Balance |
Funds in the Base Balance earn interest at rates set by Blue Cross and Blue Shield of Vermont. Members may leave all funds in the base account. |
Annual fees vary |
|
Basic Investment Account |
When a member's Base Balance exceeds $1,000, you have the option to invest the amount over this threshold in a variety of pre-selected mutual funds. |
An additional $18.00 per year**; this fee is paid out of the Basic Investment Account |
|
Health Savings Brokerage Account |
When a member's Basic Investment Account exceeds $10,000, you have the option to allocate all investment dollars in a wider range of mutual funds as well as stocks, bonds and other investments. |
An additional $18.00 per year**; this fee is paid out of the Health Savings Brokerage Account. |
*These fees are in addition to any HSA account administrative fees that Blue Cross and Blue Shield of Vermont may charge.
**The annual fee is not cumulative. Members with both types of investment account will only pay one $18 fee per year.