Personal Spending Accounts with Bank of America
Consumer-directed health plans are an effective means of controlling costs while engaging employees in their health care. They combine quality high-deductible plan benefits with Personal Spending Accounts (PSA) to help employees offset out-of-pocket costs.
Blue Cross Blue Shield of Massachusetts has engaged with Bank of America, one of the world's largest financial institutions, to offer employers a full range of PSA options, including:
Offering a Bank of America PSA with your Blue Cross Blue Shield of Massachusetts medical coverage provides significant advantages, including:
Account Management and Support
Blue Cross Blue Shield of Massachusetts provides a dedicated team to coordinate activities with Bank of America. This simplifies enrollment by allowing employers to collect and report PSA elections as part of medical enrollment. The result is a comprehensive level of service and support for your PSA program. Benefit administrators can easily and effectively:
Setting up a Consumer-Directed Solution
To learn more about offering a consumer-directed health plan with Blue Cross Blue Shield of Massachusetts and Bank of America, visit the
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