Lumenos Health Savings Accounts
In addition to PPO and HMO health plans, Anthem Blue Cross provides new members with other effective health insurance options. A Lumenos Health Savings Account is a tax-free account, to which the account holder makes monthly contributions. Savings in a HAS accrue interest, and these funds are used by the account holder to pay for various medical expenses. One of the advantages of holding a HAS is that if you should retire, remaining funds will be paid out, thus an HAS can double as an investment.
Lumenos Health Incentive Accounts
In addition to Lumenos Health Savings Accounts, there are also Health Incentive Accounts which function slightly differently. Instead of the holder making the contribution, these accounts are paid into by the provider, as part of Anthem’s reward schemes. When you own a HIA, unused funds remaining at the end of the year rollover, and money is paid into the account when you enroll in a health coaching program. There are also incentives for other healthy lifestyle choices, such as completing weight management programs.