Following are summary comments on the Blue Cross and Blue Shield of Illinois Health Savings Account (HSA)-compatible plans:
HSA Administration
Setting up a Health Savings Account (HSA) is optional.
If you purchase BlueEdge HSA-compatible coverage and choose to establish an HSA, you can establish an account with any HSA administrator you choose.
HSA Administration
Setting up a Health Savings Account (HSA) is optional.
If you purchase BlueEdge 5000 HSA-compatible coverage and choose to establish an HSA, you can establish an account with any HSA administrator you choose.
All HSA-compatible plan options utilize the extensive Blue Cross and Blue Shield of Illinois PPO network (including over 90% of Illinois physicians), and provide nationwide PPO access through the Blue Card Program, which represents the combined PPO networks of the USA's Blue Cross and Blue Shield plans.
Not only do Blue Cross and Blue Shield of Illinois HSA-compatible plan customers get maximum freedom in choosing PPO providers, they also pay less for health care services. This is because of the advantageous fees BCBSIL has negotiated with participating providers.
When you purchase HSA-compatible coverage from Blue Cross and Blue Shield of Illinois, you can choose from many financial institutions to establish an HSA.
We encourage our clients to shop around for HSA services, but if you're inclined to keep administration of your Health Savings Account in the Blue Cross and Blue Shield family, take a look at services offered by Blue Healthcare Bank, an independent licensee of the Blue Cross and Blue Shield Association.
MedPlan Access doesn't endorse any insurance company/bank HSA arrangements, but Blue Healthcare Bank is a safe choice. If you establish an HSA with Blue Healthcare Bank and later decide you'd prefer another financial institution, you can make a change while maintaining your HSA-compatible health insurance with Blue Cross and Blue Shield of Illinois.
Insuring over 4 million Illinois residents, Blue Cross and Blue Shield of Illinois is the state's oldest and largest health insurance company, with a six-decade tradition of providing high-quality, affordable healthcare plans.
Health Care Service Corporation (HCSC), a Mutual Legal Reserve Company, does business through its corporate divisions, Blue Cross and Blue Shield of Illinois, Blue Cross and Blue Shield of Texas, Blue Cross and Blue Shield of New Mexico and Blue Cross and Blue Shield of Oklahoma.
The Blue Cross and Blue Shield Association licenses Health Care Service Corporation to offer certain products and services under the Blue Cross and Blue Shield brand names.
2007 Revenue
2007 Net Income
Total Assets as of 12/31/2007:
$14,348,400,000
$865,700,000
$10,007,000,000