Payment due date
Your monthly payment is due on the first day of the month and the grace period expires 30 days later.
Automatic premium payment program
If you already participate in the automatic bank draft program, Blue Cross and Blue of Texas will automatically deduct your premium payment on the first of the month.
If you have not signed up for the automatic bank draft program, contact Health Equity at 1 (888) 678-4881.
Need to contact Blue Cross and Blue Shield of Texas?
Why would a retiree consider an HSA?
If you want to set aside money on a pretax basis before you enroll in Medicare, you may want to consider enrolling in the HDP with HSA. Once you enroll in Medicare, you can no longer contribute to the HSA, but you can still use the money tax-free as long as funds are used to pay for qualified medical expenses. To have an HSA, the IRS requires you be enrolled in a qualified high-deductible health plan, like the HDP offered through PEBC. Before enrolling in the HDP, you will want to compare the advantages of the plan with your specific situation. Consult your tax or financial advisor or contact your HSA bank if you have questions about the HSA. Your employer cannot give you tax advice.
Medicare and the HSA
As long as you are not enrolled in Medicare (even if you have reached age 65), you can still contribute to an HSA until the month you enroll in Medicare. You can even continue to make catch-up contributions prior to your Medicare effective date. Once you are enrolled in Medicare, you cannot contribute to an HSA, but the money is still yours to save, spend or leave to your heirs.
Medicare and out-of-pocket expenses
While you cannot contribute to an HSA if you are enrolled in Medicare, you can use funds in your HSA to pay for out-of-pocket, qualified medical expenses — even if you are enrolled in Medicare. To illustrate, if you are enrolled in the Medicare Advantage plan, you can use HSA funds to pay an office visit copay.
