Lumenos HSA PLAN

Would you like to pay less in taxes?  You can with the Blue Cross Lumenos HSA Plan. With the BC HAS play any money you deposit in your HAS reduces your taxable income, so, you pay less in taxes.

The Lumenos HSA plan is one in the family of consumer-driven health plans offered by BC Life & Health Insurance Company. Consumer-driven health plans are designed to educate you about health care options and empower you to take control of your health, as well as the dollars you spend on your care. With the HSA plan, you have a Health Savings Account that can be funded by your own pre-tax contributions. Others may also contribute money to your HSA on your behalf. You can use money in your HSA to pay for your medical care, including prescriptions.  

The plan also includes a Traditional Health Coverage component – similar to a typical health plan – which helps protect you against further health expenses. In addition, the Lumenos HSA provides access to personalized health services and online tools to help you manage your health, health decisions and your health care dollars.
The Lumenos HSA Plan meets all Federal guidelines, letting you take advantage of some of the best tax advantages in the Federal code.

HSA highlights include:
  • As an individual, you can fund your Health Savings Account up to $2,850 or for two or more people, $5,650. Your taxable income is reduced by the amount that you deposit in your HSA that year.
  • You may use available HSA funds first to pay the cost of covered medical expenses and prescriptions
  • Unused funds rollover year-to-year.  The money in your HSA will build interest
  • Unlimited choice of providers. If you see in-network providers, you may pay less for your care.
  • You can use your HSA funds for almost any healthcare cost, from doctor’s bills to dentist to bandages — and even for your deductible.  And as long as it’s spent on a health expense, the money you withdraw from it won’t be taxed.
  • Plus, get 100% coverage for nationally recommended preventive care services with no deduction from your HSA and no out-of-pocket costs to you if you see an in-network provider. 

Traditional Health Coverage

Traditional Health Coverage begins after you have used your HSA balance (if you choose to use HSA funds to pay for covered services) and paid a limited amount out-of-pocket – called your Bridge – needed to satisfy your plan’s annual deductible.

Your total expenses are limited to a maximum amount each year, after which you receive 100% protection for covered services.

Unlimited choice of providers. If you see in-network providers, you may pay less for your care.

Personalized Serviced and Tools

We care about your health.  Blue Cross takes and extra step by providing you with online tools and personalized resources to help you live a healthier life.

  • Use our ProviderFinder online directory to find doctors and hospitals that participate in our network.
  • Find tools to help you stay healthy, manage a health condition and prepare for a surgical procedure. Also make comparisons on quality and find cost information for medical services and prescription drugs.
  • Track your account activity, claims and benefits.
  • Get personalized help managing a condition from a Personal Health Coach if you qualify.
  • Talk to registered nurses about minor health concerns on our 24-Hour Nurse Advice Line.
    The above information does not constitute legal, tax, or benefit plan design advice. Blue Cross strongly encourages consultation with a tax advisor before establishing a Health Savings Account. Any Health Savings Account will be established between the individual account holder and the HSA custodian or trustee. Blue Cross is responsible for the administration of the health plan, and the custodian is responsible for the administration of the HSA.

What makes BC’s Lumenos Plan Special?

There are other HSA-compatible plans on the market. But what makes the Lumenos plan unique is the comprehensive coverage it provides.  Other HSA plans give you the tax advantages, but leave you responsible for most of your expenses. With Lumenos, you get total coverage on a variety of healthcare services once you’ve met your deductible.  Lumenos is about choices.  Deductibles are not an exception. For individual plans, you can set your deductible at $1,500, $2,500, $3,000, or $5,000. For family plans, your deductible can be $3,000, $5,000, $6,000, or $10,000. Remember the higher you set your deductible, the lower your monthly premiums will be.

Your HSA with Mellon Bank

The Lumenos HSA Plan includes account servicing for your HSA through Mellon Trust of New England. While you are not required to use Mellon Bank for your HSA, the features and services included with the Mellon HSA were designed to simplify and meet all of your HSA needs. 

Key Features

The Mellon HSA provides many useful features, tools and services for your HSA. 

  • a single point of contact for health plan and HSA customer service
  • a single online health site to access your benefits and HSA details
  • competitive interest rates and investment options for your HSA funds

Interest and Investments

You will earn interest on your HSA funds and will also have the opportunity to invest your funds once your HSA balance reaches $3000. Investment options include seven different mutual funds from the Dreyfus family of mutual funds. Once you are ready to invest, you can request a prospectus for each fund for more details.

Debit Cards and Checkbooks

Use your MasterCard® debit card or your HSA checkbook to pay your health care provider directly for eligible medical expenses, or to access cash from your account.

One Stop Customer Service

Use your MasterCard® debit card or your HSA checkbook to pay your health care provider directly for eligible medical expenses or to access cash from your account.

Account Activity Statement

Each month you will receive an HSA Monthly Statement from Mellon that shows all of your account activity. You will also receive a 1099 form and a 5498 form near tax time so you can file your taxes. 

HSA  Welcome Kit

After you enroll in your Lumenos HSA Plan with Mellon, your HSA account with Mellon will automatically be established – a separate application for your HSA is not required. Soon after enrollment, you will receive an HSA Welcome Kit with all of the banking documentation and instructions for how to activate your HSA. To activate your HSA, you’ll need to complete a simple signature process – online or by mail.