Health Spending and Savings (HRA, FSA, & HSA) Options

MyMoney Health Spending and Savings Accounts

Our health care spending and savings accounts give your employees more control of their health care and dependent care spending. We offer integrated Health Reimbursement Accounts, Flexible Spending Accounts, and Health Savings Accounts that allow you and your employees a seamless way to manage health care spending and savings. With every plan you get:

  • An innovative online portal so you can access information about your account 24 hours a day, seven days a week.
  • A custom online learning center with detailed product descriptions, savings calculators, quick access to popular forms and educational materials to help you and your employees understand more about your health care spending and saving.
  • Dedicated support from award-winning customer service representatives trained specifically on our products to offer personalized assistance.

Your Account Options

A HSA is tax-deductible savings account that is used to help individuals pay for current or future qualified medical expenses that are not reimbursed through health insurance or any other health reimbursement source (i.e. deductibles, coinsurance, vision, and dental services). HSA's are available with select plans.

Top benefits of an HSA:

  • Money goes into the employee's HSA before state or federal taxes are deducted.
  • There’s no “use it or lose it” rule: the money in the HSA belongs to the employee.
  • An HSA can help even out medical expense over time: Since the individual manages the funds, they can save HSA money when they are healthy so it’s ready when it is needed.

An HRA is funded by the employer to help employees pay for out-of-pocket health care expenses like deductibles, office visits, hospital stays, and prescription costs. The amount an employee uses from the HRA for qualified services is tax-free. These are available with all of our Blue Cross and Blue Shield of Vermont group plans.

Top benefits of an HRA:

  • The employer funds the account, tax-free.
  • The employee doesn’t put their own money into the HRA.
  • HRA money can be used for anyone covered by the health plan.

Available with any health plan, FSA's are an employer-sponsored benefits program offered to employees to help them save pre-tax dollars to pay for medical or dependent care expenses. The money in an FSA must be used up by the end of the year unless the employer allows FSA rollover or a grace period.

Top benefits of an FSA:

  • Pre-tax deduction lowers the employee's tax burden and increases spending power for health and dependent care expenses.
  • Provides the ability to plan and budget for eligible expenses and smooth out anticipated expenses thanks to regular deductions spaced evenly across the year.

Student Loan Services

Your financial wellness is an important part of your overall health and well-being. We’ve partnered with GradFin to provide student loan services to eligible Blue Cross members.

Get Started with MyMoney

MyMoney is your single source for all spending and saving account products. Get started in three easy steps.
  1. Determine what you want to offer

    Determine what type of account(s) you will offer and how much you will contribute. You can learn more about how these accounts could benefit you and your employees through our online learning center or by contacting our dedicated support team at (866) 999-2605 or by email at

  2. Set up the account(s)

    Employers can set up their chosen account(s) by calling our team at (866) 999-2605.

  3. Help your employees enroll

    Now is the time to help your employees enroll in the plan of their choice. Upon enrollment, Blue Cross and Blue Shield of Vermont establishes an account for each employee based on what you elected for enrollment. We then also mail welcome materials to their homes.

    Employees enrolled in an HSA can transfer existing HSA balances from other administrators to Blue Cross and Blue Shield of Vermont to consolidate their savings and take advantage of other incentives.

Manage your MyMoney Accounts

Secure, real-time, 24/7 access to account information including claims data and status.