Health Savings Accounts
When you enroll in the Full-Time Medical Blue Plan, you get a Health Savings Account (HSA), which is funded by JetBlue and you, if you choose. You can use the money in this account to help pay eligible healthcare expenses, including your deductible and coinsurance.
Optum gives you two convenient ways to access your HSA funds: use your Optum Mastercard at the point-of-sale, or pay out-of-pocket and request a distribution online.
With an HSA, you can contribute tax-free to your account (up to IRS limits, which includes the money JetBlue gives you: seed dollars and Healthy Rewards), then either use or save your money. You get tax-free earnings on invested funds, which can then be used to pay healthcare expenses without getting taxed — that’s triple tax savings! Plus, this account is yours to keep because the balance rolls over year-to-year, even if you leave JetBlue.
How HSAs work.
1. JetBlue contributes money each year.
|JetBlue dollars||For individual coverage:||For family coverage:|
Seed money: automatic annual contribution in January
| CMs: $400
Healthy Rewards earnings
Total JetBlue dollars**
*Seed dollars are prorated based on the start date of your Medical coverage. **Earn an additional $300 ($600 family) by working with a BlueCarpet nurse to care for an ongoing condition.
2. You can choose to contribute money tax-free into your HSA, up to IRS annual limits (shown below, which includes JetBlue seed dollars and Healthy Rewards). And, you can change your contribution at any time during the year by logging into BCSS.
|With individual coverage …||With family coverage …|
|You can contribute annually up to $3,500.||You can contribute annually up to $7,000.|
NOTE: If you are over age 55, you can contribute an additional $1,000 annually.
3. Use money from your HSA to pay eligible healthcare expenses, including your deductible. Or, save the money and invest the balance to earn more tax-free dollars to be used toward future qualified healthcare expenses (such as for medical coverage when you leave JetBlue) — the choice is yours.
(Account balances over $1,000 can be invested among investment options — easily managed through the Health Advantage Account Suite from Optum.)
Eligible healthcare expenses include:
- Expenses such as deductibles, coinsurance, prescriptions and charges that exceed plan limits.
- Services such as chiropractic visits, physical therapy, vision, dental and other healthcare services.
NOTE: You can use the money in your HSA to pay eligible healthcare expenses for yourself and your dependents who are tax dependents regardless of whether they’re enrolled in a JetBlue Medical Plan. Money used for ineligible expenses is subject to a tax penalty of 20% (if you’re under age 65) and is taxable as regular income.
4. Get reimbursed for expenses.
It’s easy to access your HSA funds by using your Optum Mastercard. You may also submit a distribution request using the Optum Health Advantage website or mobile app.
5. Contact Optum with questions.
Visit optumbank.com or call 1-866-529-1675 to contact Optum.
2019 Open Enrollment only—Pilots moving from Green to Blue Plan:
Pilots who switch from the Green Plan to the Blue Plan during the 2019 Open Enrollment period will continue to have access to unused HRA funds through a Limited-Purpose Post-Deductible HRA. The Limited-Purpose Post-Deductible HRA will only be available to Pilots who switch from the Green Plan to the Blue Plan during the 2019 Open Enrollment period, it will not be available to a Pilot who switches from the Green Plan to the Blue Plan in subsequent years. For example, a Pilot who switches from the Green Plan to the Blue Plan during the 2020 Open Enrollment Period will not have access to a Limited-Purpose Post-Deductible HRA. For more information about the Limited-Purpose Post-Deductible HRA and how it operates, contact BlueCarpet at 1-866-529-1675.