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Wisconsin Blue Adds Defined Contribution Plans

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NU Online News Service, April 3, 11:45 a.m. – Blue Cross & Blue Shield United of Wisconsin, Milwaukee, a unit of Cobalt Corp., is now selling a defined contribution health insurance program, the FreedomBlue program, to employers in Wisconsin.

Employers that use the program can combine one of three different types of high-deductible health insurance with flexible spending accounts.

Employers and employees can use the FSAs to set aside pre-tax income for routine health care expenses not covered by the insurance. Employers will save 7.65% in payroll taxes, and employees can save up to 30%, Wisconsin Blue says.

The health insurance policies sold through the program include access to the Blue Cross and Blue Shield Association’s global BlueCard preferred-provider network, Wisconsin Blue notes.