Blue Options HRA pairs a high-deductible Blue Options PPOSM plan with an employer-funded health reimbursement account (HRA) for out-of-pocket expenses. These plans typically have lower premiums than traditional plans so your company may save money immediately. The HRA helps strike the balance between managing expenses and the cost of the PPO plan.
1) The HRA
You allocate a set amount of money toward an employee's HRA. When the employee has an eligible expense, they may receive reimbursement from the HRA. The HRA funds can be used toward satisfying the deductible for their health plan.
2) The bridge
If an employee spends all of the funds in their HRA, they will pay all additional health care expenses out-of-pocket until they meet the PPO plan deductible. After they meet the deductible, they are responsible for any applicable coinsurance. There may be a gap between exhaustion of the HRA fund and the start of benefits from the PPO health plan.
3) The Blue Options PPO health plan
Once employees meet their deductible, their health care benefits begin, and they will only pay coinsurance amounts. The plan's out-of-pocket maximum limits total coinsurance expenses. If an employee meets the out-of-pocket maximum, the plan begins paying eligible expenses at 100%. This maximum protects employees from catastrophic expenses.
With our Auto Pay option, you can elect to have employees or providers paid directly from the employee's HRA, eliminating the need for filing claims for plan expenses. You can also choose a rollover percentage for any HRA reimbursement dollars not spent during the year. You can even add a flexible spending account (FSA) to your benefits plan and decide which funds are utilized first. We've designed Blue Options HRA to be customizable to your benefits strategy.
You can offer your employees a debit card for even greater convenience in paying for their eligible out-of-pocket health care expenses. Employees won't have to submit a claim for reimbursement. They'll simply pay with their debit card.
Additionally, you can offer first dollar preventive care benefits. You can waive the deductible for preventive care and cover it at 100% or your chosen coinsurance percentage. That means your employees will be covered for a variety of common services vital to good health including:
Even if they haven't met their deductible, your employees will still save money just by visiting providers in our large network. We've negotiated competitively discounted rates with our providers to ensure savings for you and your employees. For employees with a high-deductible health plan, our provider discounts matter now more than ever.
Our online Decision Support Tools can help your employees estimate the cost of numerous health care services and prescription drugs. They also enable them to compare hospitals and research valuable health information.
Blue Options HRA is built around our most popular plan, the Blue Options PPO, which gives your employees our largest network of doctors and hospitals and the freedom to go outside that network for care. The only differences are their out-of-pocket cost and whether they have to file a claim. And, with the Blue Cross and Blue Shield Association's Blue Card® network, they're covered wherever they go across the United States and in more than 200 countries and territories worldwide.1