BlueFit a hit with MassBankers employees

When Viktoriya Skuz learned her employer was offering a new health plan that provided comprehensive coverage and would allow her to earn money to pay for her medical expenses every time she took steps to improve her health and wellness, she decided to sign up.

“The BlueFit plan offers a lot of flexibility, and I like that you can earn money right off the bat, especially if you’re someone who doesn’t go to the doctor that often. I haven’t needed to use any benefits yet, but it’s been quick and easy to earn money for my health savings account,” said the 26-year-old Southborough, Mass., resident, who is an administrative coordinator at Main Street Bank.

Growing demand

“Plans like BlueFit are growing in popularity,” said Chad DiBonaventura, managing director at Baystate Benefit Services, a full-service benefits consulting firm based in Braintree, Mass. He noted that more employers are offering what are known as “consumer directed health plans” like Blue Cross Blue Shield of Massachusetts’ BlueFit, and more employees are enrolling in them.

“Employers are looking for plans that can help them reduce costs while maintaining a high level of benefits for their employees,” he said. “They’re also looking for plans like BlueFit that offer additional value, such as built-in serious illness and accident coverage and a health savings account, which allows employees to contribute, retain and grow money to spend on eligible medical expenses when they need it.”

Research backs that up. As of 2020, more than 63 million people across the United States were covered by a health savings account, including nearly 1 in 5 Americans in their 30s. The plans are popular among older workers, too: Account holders older than 50 years old held over $44 billion in their accounts at the end of 2020, with an average balance of $4,321.

Rewards for healthy habits

Employees who select the plan are automatically enrolled in a health savings account, which allows them to set aside money to pay for eligible medical expenses, now or in the future, with triple tax advantages: All contributions to an HSA are income tax-free, withdrawals for qualified medical expenses are income tax-free, and any interest earnings and investment growth from deposits are income tax-free. If an employee doesn't spend their HSA money in a given year, the funds can be rolled over.

Employers who offer BlueFit, such as Main Street Bank, fund each employee’s HSA with at least 30% of their annual deductible.

Guided by personalized digital tips and reminders, employees with BlueFit can earn up to $600 in rewards deposited directly into their HSA when they participate in health and financial wellness programs.

As a result, Skuz said, “we’ve seen a boost in wellness activity and engagement. Everyone who is enrolled in BlueFit is emailing and talking about it, which is really nice.”

New empowerment

Main Street Bank began offering BlueFit this year because the plan engages employees in their health care and provides a new way for them to pay for care, said SVP and Director of Human Resources Suzanne Dupre.

“BlueFit helps employees better understand their benefits and how they work. It also gets them more involved in their health care and engages them in wellness programs,” she said. “As a community bank, we are focused on improving the financial wellness of our community and our employees. BlueFit provides premium savings for our employees and helps them earn money they can use to pay for care.”

The Marlborough, Mass.,-based bank with offices in Metrowest and north-central Massachusetts, expands the benefits it offers its 180 employees by being a member of the Massachusetts Bankers Association, a banking trade group that represents 120 banks across Massachusetts and New England. Member banks have access to Blue Cross Blue Shield of Massachusetts medical and dental benefits through the MBA Group Insurance Trust.

BlueFit is one of three health plans Main Street Bank offers. “It really depends on each employee’s personal situation if BlueFit will be a good fit for them. Our philosophy is that there is no one-size-fits-all health plan. We try to be very thoughtful and deliberate about offering a range of plans that will work for the majority of our employees,” Dupre said.

So far, Dupre said, the plan has been a win-win for employees and the bank.

^{PHOTOS OF VIKTORIYA SKUZ BY FAITH NINIVAGGI}