Blue Cross and Blue Shield of Nebraska
Group #: 101498
NEtwork BLUE Network
Pharmacy Network: Network C
Drug List: PDL 10 (Formerly "BCBSNE Standard Formulary")
One of the most important differences between the two health insurance options is that WoodmenLife owns the HRA and you own the HSA. This means you take the HSA when you change jobs. If you have an HRA and change jobs, any remaining amount in an HRA defaults to WoodmenLife.
Additionally, an HSA is a tax-advantaged account that can be used to pay for IRS-defined health care expenses, including long-term care and COBRA premiums.
However, there are many factors to consider. Please consult the chart below to make the best decision for
you and your family.
|Definition||Health Savings Account||Health Reimbursement Account|
|Deductibles||$1,500 Associate Only
$3,000 Associate Plus
|$2,000 Associate Only
$4,000 Associate Plus
|Coinsurance||25% of cost (After Deductible is Met)||30% of cost (After Deductible is Met)|
|Out-of-pocket Maximum||$3,000 Associate Only
$6,000 Associate Plus
|$4,500 Associate Only
$9,000 Associate Plus
|Annual Contribution by WoodmenLife||$500 Associate Only
$1,000 Associate Plus
|$1,000 Associate Only
$2,000 Associate Plus
|May I contribute additional funds?||Yes, contributions can be made on a pre-tax basis up to the annual maximum. Contributions can be changed throughout the year.||No|
|What is the most I can contribute per year?||For 2019, $3,500 Associate Only, $7,000 Associate Plus. For 2020, $3,550 Associate Only, $7,100 Associate Plus. $1,000 additional for age 55 or older.||N/A|
|When are funds available?||Funds are available as they are added to the account||Full fund allocation for the year is available as early as Jan. 1|
|How do I access funds in my account?||Funds are accessed via debit card, request for reimbursement or request to have payment sent||Requests reimbursement from account|
|What can account funds be used for?||Can be used for medical, dental, vision and federally-approved over-the-counter items.||Can be used for second half of medical deductible expenses|
|What happens to remaining funds at the end of the year?||100% available the following year||50% rollover available if enrolled in the Select HRA the following year|
|What am I financially responsible for?||
The information on this page is a partial description of benefits, limitations, exclusions, and other provisions of the group benefits provided by Woodmen of the World Life Insurance Society (WoodmenLife). If there is a difference between the information in this summary and the plan document for each plan, the plan documents govern. Eligibility requirements apply to each of the benefits offered, criteria may include employment status and/or individual qualifications. For more detailed information, refer to the Summary Plan Description of each plan. WoodmenLife may amend these plans at any time. The description of the plan is not a guarantee of benefits and should not be construed as such.
This is the Life is a registered service mark of Woodmen of the World Life Insurance Society.