Further - HSA

Further - HSA

Further has officially been acquired by HealthEquity, the nation’s largest non-bank health savings account (“HSA”) custodian. The acquisition was finalized on November 1, 2021.

The acquisition of Further and its technology expands HealthEquity’s leadership in the growing HSA market, enhances its ability to drive growth with health plans and other go-to market partners, and adds to its Total Solution offerings.

Who is HealthEquity?

As one of the largest employer benefits companies in the country, HealthEquity has a reputation for benefits innovation and for continually evolving their offerings to meet their client’s and member’s needs.

Why has HealthEquity acquired Further?

HealthEquity continues their focus on growth and innovation in all areas of their business. The acquisition of Further by HealthEquity gives our partners and clients expanded choices and increased capabilities to deliver more value to our members. The great news and the reason our companies decided to combine is because of our shared focus on our customers.

Together with HealthEquity’s leadership in the growing HSA market, Further will work to enhance our partnerships with health plans and other channel partners, and to create a Total Solution product offering backed by remarkable Purple service, education, and engagement to help our members spend wisely on their health care.

What does this mean for you?

You will continue to work with your designated Further contact(s) and at this point, there are no changes to our products, brand, delivery, or support. In the future, if any changes are made, you will be notified well in advance.

To provide additional information about this acquisition, please see our joint press release and a customer FAQ.


Bringing it all together, making life easier for you. We go above and beyond. We go Further.

Greenbush Health is now offering a Qualified High Deductible Health Plan (BCBSKS - Option 4) along with the QHDP we are also offering a Health Savings Account (HSA) administered by Further.

Our QHDP has a $5000 dollar deductible which means you will be responsible for the first $5000 dollars of your health care expenses. However, since our QHDP is considered a Non-Grandfathered health plan all Preventative Services as defined by the Affordable Care Act will be paid by BCBSKS at 100% of the allowable charge.

An HSA is an account that can be funded with your tax-exempt dollars, or by your employer, or both, to help pay for IRS qualified medical expenses not covered by your insurance plan, including deductible, coinsurance and, in some cases, may be used to pay health insurance premiums. HSA monies can also be saved to use for future IRS qualified medical expenses on a tax-free basis.

Further is one of the largest health savings account (HSA) custodians and account administrators in the nation. They’ve been at the forefront of innovation in health spending accounts for 25 years, and have earned a reputation as one of the most experienced and trusted account administrators in the country.

Important Information About HSA's


***In order to print brochures and / or forms please download them first***

HSA participants can reach Further's Member Medical Spending Account Specialists at 1-800-859-2144 or their Member Online Service Center at www.hellofurther.com


Further - Greenbush Educational Information 2022

2022 Communication Playbook - HSA

2022 Group Contact Information


Further Employee / Participant Video:

https://vimeo.com/hellofurther



2022 HSA Essential Guide

2022 HSA Eligible Expenses

2022 HSA Fact Sheet



FORMS

2021-2022 Employee HSA Application

2021-2022 Employee Payroll HSA Contribution Form


2022-2023 Employee HSA Application

2022-2023 Employee Payroll HSA Contribution Form


Further does not send notifications or alerts when a member is approaching or exceeds the annual contribution maximum limits. Further recommends members review their account online via the member portal or the mobile app at least monthly to monitor their contributions.


Inflation boosts HSA amounts for 2023. The IRS announced the updated amounts Friday, April 29, 2022 in (RP-2022-24 (irs.gov). The 2023 maximum contribution that may be made for calendar 2023 by an individual with self-only coverage will be $3,850, representing a $200 increase from 2022. For an individual with family coverage, the maximum contribution will be $7,750, which is $450 higher than the current limit of $7,300. Unchanged is the $1,000 "catch-up" additional contribution that may be made by individuals who are age 55 or older before the end of the tax year.


2022 Contribution Limits

Single: $3,650 Family: $7,300

Over 55 catch-up: $1,000


2023 Contribution Limits

Single: $3,850 Family: $7,750

Over 55 catch-up: $1,000



The above Information is a brief summary of the coverage available under this program. It is not a legal document and the exact provisions of the benefits and exclusion are contained in the actual policy certificates.