HEALTH INSURANCE

HRA vs. HSA

Provider

Group #101498
NEtwork BLUE Network
1-888-592-8961

PHARMACY NETWORK
Network C
DRUG LIST
PDL 10 (Formerly "BCBSNE Standard Formulary")

Which one is right for you? The answer depends on your needs.

One of the most important differences between the two health insurance options is that the employer 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

Deductibles1

$1,500 Associate Only
$3,000 Associate Plus2

$2,000 Associate Only
$4,000 Associate Plus

Coinsurance1

25% of cost (After Deductible is Met)

30% of cost (After Deductible is Met)

Out-of-pocket Maximum1

$3,000 Associate Only
$6,000 Associate Plus

$4,500 Associate Only
$9,000 Associate Plus

Annual Contribution by WoodmenLife3

$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 2021, $3,600 Associate Only, $7,200 Associate Plus. For 2022, $3,650 Associate Only, $7,300 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?

Full out-of-pocket payment on all services and prescriptions until deductible is met, then coinsurance until out-of-pocket maximum is met

No payments after reaching annual out-of-pocket maximum

Co-pays for doctors visits, prescriptions, urgent care, and emergency room visits

Full out-of-pocket payment on hospital stays, outpatient procedures, labs, X-rays until deductible is met, then coinsurance until out-of-pocket maximum is met

No payments after reaching annual out-of-pocket maximum

Tools

BCBSNE Tools and Resources

  • Find a Doctor

  • Rx Benefits

  • Cost Estimator

  • Telehealth

Go Mobile

App Store | Google play

Check out more details of each account.

Ready to Enroll?

Disclosures

  1. For In-Network Expenses

  2. Associate Plus means Associate + Child(ren), Associate + Spouse or Associate + Family

  3. For Representatives not enrolled for the entire year, WoodmenLife's contribution will be prorated based on the coverage start date.

Customer Service: 1-800-225-3108
Monday – Thursday 7:00 a.m. to 5:00 p.m.
Friday 7:00 a.m. to 12:00 p.m. (Central Time)

This company was issued a secure rating by the A.M. Best Company
View our Ratings & Awards

Terms and Conditions
Privacy Notices
Privacy Requests
Constitution
NY Residents
Accessibility Statement
Sitemap

A proud member of:

WoodmenLife is a proud member of American Fraternal Alliance



© 2022 Woodmen of the World Life Insurance Society
Omaha, Nebraska

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.

This is a solicitation of insurance and an agent may contact you.

Securities are offered through Woodmen Financial Services, Inc. (WFS), 1700 Farnam Street, Omaha, NE 68102, 877-664-3332, member FINRA/SIPC, a wholly owned subsidiary of Woodmen of the World Life Insurance Society (collectively “WoodmenLife”). Securities other than the WoodmenLife Variable Annuity are issued by companies that are not affiliated with WoodmenLife. This material is intended for general use with the public. WFS is not providing investment advice for any individual or any individual situation, and you should not look to this material for any investment advice. WFS has financial interests that are served by the sale of these products or services.

WoodmenLife Extras are available to members. An individual becomes a member by joining our shared commitment to family, community and country, and by purchasing a WoodmenLife product. These extras are not contractual, are subject to change and have specific eligibility requirements.

Some WoodmenLife Extras include additional membership requirements including length of membership, number of qualifying members in household and/or a qualifying event.

Check out the background of Woodmen Financial Services, Inc. on FINRA’s BrokerCheck.

Business Continuity Plan | All products may not be available in all states. | Not all Representatives are licensed to sell all products.

Fraud, Ethics and EEO Reporting Hotline: 1-844-339-3053
WoodmenLife.ethicspoint.com

A+ Financial Rating

This company was issued a A+ (Superior) rating by the A.M. Best Company, click for additional details. WoodmenLife has been awarded a rating of A+ (Superior), the second highest ranking out of 15, for its financial strength and operating performance in 2021 by A.M. Best, an independent rating company that is nationally recognized for its objective reporting and rating of insurers.

International Use

This Site is not intended for access outside of the United States, including those individuals who reside in the European Economic Area (“EEA”). WoodmenLife makes no representation that materials on the Site are appropriate or available for use in locations outside of the United States, and accessing them from territories where their contents are illegal is prohibited. Those who choose to access the Site from outside of the United States do so on their own initiative and are responsible for compliance with local laws.