The Anthem blue cross High Deductible EPO Plan provides Small Group members affordable medical coverage that can be combined with a Medical Savings Account(MSA).

An MSA is a tax-favored account established to pay for qualified medical and dental expenses. It allows for an individual to accumulate savings to pay for future medical and dental costs. Funds contributed to an MSA, which is established through a qualified financial institution, may be used to pay for medical deductibles when combined with a qualified high-deductible plan.

An MSA offers an opportunity for long-term tax-deferred and/or tax-free savings, while providing better control over medical, dental and insurance spending. Incentives for establishing an MSA and enrolling in the Anthem blue cross High Deductibles EPO are:

• Funds contributed to the MSA may be tax deductible (up to specified limits);
  
  
• Non-taxable distributions may be made from MSA funds for qualified medical and dental expenses;
  
  
• MSA monies can be accumulated year-to-year and may earn tax-free interest;
  
  
• Contributions to the MSA can be made by employers or employees; and
  
  
• MSA's are portable. Even if an employee changes employers, the MSA remains in the employee's control

Anyone may apply for the Anthem blue cross High Deductible EPO Plan. To establish an MSA, your employees must meet the following qualifications:

• Employee or spouse must be either an employee of a business with 50 or fewer employees and offering a high deductible medical plan, or self-employed.
  
  
• Employee cannot be covered under any other medical plan.

Employee may carry low-deductible coverage for long-term care, accidents, disability, dental care, or vision care. Employee may also have illness-specific per-diem hospital insurance workers’ compensation, torts or property policies.

The Anthem blue cross High Deductible EPO Plan is designed to enable your employees to take advantage of the tax savings, if they are eligible to establish a Medical Savings Account. In order to take advantage of the tax savings, and employee must qualify as an “eligible individual under IRS regulations and must separately open an MSA meeting IRS requirements. 

The Anthem blue cross High Deductible EPO Plan is an Exclusive Provider Organization (EPO) plan. Benefits are applicable only through network providers, except in emergencies. Anthem blue cross negotiates rates with network health care professionals, so members save on costs. Using non-network providers will result in significantly higher out-of-pocket costs.

< Back Next >