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(for members only)
Personal funding accounts offer your business a consumer-driven approach to improving the bottom line—combining quality healthcare coverage with a choice of tax-advantaged healthcare spending accounts.
Personal funding accounts:
With Premera, you can provide personal funding account options with the following key features to make the transition smooth and maximize the effectiveness:
Premera offers the following personal funding account options. After choosing your group benefit plan, you may pair it with one or, in some instances more, of the following:
HSAs are employee-owned, tax-advantaged, fully portable accounts that work in combination with a qualified, high- deductible health plan. With an HSA, employees will have the opportunity to:
Learn more about HSAs
HRAs are employer-owned and -funded arrangements that members can use to pay their cost-share for covered expenses. It is important to note that HRAs are not portable. If the employee leaves the company, any unused portion of the HRA (after all prior claims have been paid) reverts back to the employer.
FSAs are employer-sponsored, tax-advantaged healthcare spending accounts that members can use to pay for eligible expenses. Here are a few things to know about FSAs:
Learn more about FSAs
Once you’ve worked with your General Agent to determine which Personal Funding Account is right for your group, use these tools to make sure your plan is active on the effective date:
Forms are due by the 5th of the month
Completed enrollment materials for NEW GROUPS must be received at Premera for HRA and HSA products for small groups beginning coverage on the first of the following month to ensure eligibility is active on the effective date.
Incomplete materials may delay group enrollment
Miss a deadline? Include a signed Late Enrollment Acknowledgement form if you’re turning in forms past one of these dates:
Use this checklist to make sure you have your paperwork in order and know how to enroll before the due date.
1. COMPLETE THE NECESSARY ENROLLMENT FORMS. All forms are available at premera.com.
ALL GROUPS COMPLETE THESE FORMS
ADDITIONAL FORMS REQUIRED FOR HSA PLANS
ADDITIONAL FORMS REQUIRED FOR HRA PLANS
2. BE SURE TO INCLUDE A CHECK FOR THE FIRST MONTH’S PREMIUM PAYABLE TO PREMERA BLUE CROSS.
3. ALL COMPLETED ENROLLMENT MATERIALS TO BE RETURNED TO THE GENERAL AGENCY PARTNER:
Use this checklist to make sure you have your paperwork in order and your renewal is completed before the due date.
2. ALL COMPLETED ENROLLMENT MATERIALS TO BE RETURNED TO THE GENERAL AGENCY PARTNER:
Premera has partnered with UMB Bank to provide a unique banking experience. Unlike any other HSA health plan or HSA qualified bank, Premera and UMB Bank work together to offer our members comprehensive online access of HSA activity. In addition, our relationship with UMB Bank means we make saving and paying for qualified medical expenses with an HSA simple. We’ve included some helpful UMB member forms and information below for your convenience.
UMB Bank Member Forms
UMB Bank, member of the FDIC, is one of the largest independent banks in America since 1913. They have been an industry leader in financial healthcare accounts since 1997.
For more information about our small group plans, just contact one of our General Agent (GA) distribution partners*:
* Independent Premera affiliates distribute but do not provide Blue Cross Blue Shield products or services and are solely responsible for their services.
This material is not intended to be tax or legal advice. The reader should consult with his or her own tax advisor to determine the tax implications of purchasing the products discussed herein. Advice, if any, included in this material was not intended or written by Premera to be used, and it cannot be used, by any taxpayer for the purpose of avoiding penalties that may be imposed on the taxpayer.