|
|
|
| 
November 2004
|
HSA Market News November 2004; Volume 1, Number 2
United to buy Definity...’05 HSA max: $2650 single...Fidelity eyes HSAs for groups...BCBS-LA has 53,000 HSA lives...SPECIAL REPORT: HSA Administrators...Hopes high at HSA administrators...Alliance Benefit Group, American Health Value, AssureCare, Benefit Administrators, First HSA, HealthEquity, HSA Bank, Medical Savings Insurance, MSAver,
Nyhart, Plan3, UnitedHealth...BCBS plans expanding HDHPs...ODS sees HSAs as niche product...Blue Cross-CA eyes 50,000 lives...AMSG adds small group HDHPs...Aetna expands HDHP offerings...Excellus sees HSA interest...BCBS-MI adds 5 HDHP options...WellChoice waits HSA approval...HealthNow launches HDHPs...Horizon BCBS to use JPMorgan...Wells Fargo has individual HSAs...Independence BC picks Bancorp...Kaiser taps Wells Fargo...Humana picks JP Morgan...BCBS-AZ taps HSA Bank...Assurant HSA sales strong...CoreSource launches HDHP...and more...
|
|
HOPES HIGH AMONG HSA ADMINISTRATORS
A wide variety of relatively small companies that administrator HSAs and HRAs have high hopes of latching onto the burgeoning market for these products, according to an HMN roundup.
|
|
’05 HSA MAX: $5250 FAMILY, $2650 SINGLE
As expected (HMN, October), the U.S. Treasury Dept. increased the maximum annual HSA contribution for individuals to $2650 in 2005, up 1.9% from $2600 in 2004.
|
|
BCBS-LA HAS 53,000 HSA LIVES
Blue Cross Blue Shield of Louisiana (Baton Rouge, LA) had 53,000 individuals enrolled in its BlueSaver HSA-compatible high-deductible health plan, according to John Maginnis, vice president of marketing.
|
|
UNITEDHEALTH TO BUY DEFINITY FOR $300 MILLION
UnitedHealth Group (Minnetonka, MN) continues to build its portfolio of consumer-directed health care capabilities, announcing an agreement to acquire Definity Health Corp. (Minneapolis) for $300 million in cash.
|
|
BCBS PLANS OFFER HSA-COMPATIBLE HDHPs IN 38 STATES
The nation’s 41 Blue Cross Blue Shield plans currently offer HSA-compatible, high-deductible health plans in 38 states, according to the BCBS Assn. (Chicago). By 2006, BCBS are expected to offer HSA-compatible health plans nationwide. The products are being offered to individuals in 32 states and to groups in 34 states each.
|
|
ASSURANT REPORTS STRONG 3Q04 HSA SALES
Assurant Inc. (New York) reported strong third-quarter sales of health savings accounts, the third consecutive quarter of solid HSA growth despite increased competition and new entrants into the HSA market, the company said.
|
|
CORESOURCE LAUNCHES HDHP
CoreSource (Lake Forest, IL), a third-party employee benefits administrator, has launched an HSA-compatible, high-deductible health plan, the company announced.
|
|
ODS SEES HSAs AS NICHE PRODUCT
ODS Companies (Portland, OR), with 170,000 medical and 650,000 dental members, expects HSAs to remain a niche product, according to Charlie LaTourette, director of corporate communications.
|
|
WELLS FARGO TO OFFER INDIVIDUAL HSAs
Wells Fargo (San Francisco) will begin offering HSAs directly to individuals in December, according to John Reynolds, senior vice president and director, Wells Fargo Institutional Trust Services.
|
|
KAISER TAPS WELLS FARGO FOR HSA-COMPATIBLE HDHPs
Kaiser Permanente (Oakland, CA) announced it will use Wells Fargo Bank as its HSA trustee for a new line of high-deductible health plans, initially available in Colorado, Georgia and the northwest effective January 2005. Wells Fargo will provide Kaiser’s members with a debit card, customer service, and a variety of money market and mutual fund investment options.
|
|
HUMANA PICKS J.P. MORGAN AS HSA TRUSTEE
Humana Inc. (Louisville, KY) will recommend J.P. Morgan Chase (New York) as its preferred HSA trustee for both individuals and groups enrolled in the company’s HumanaOne high-deductible health plans, the company announced.
|
|
BCBS-AZ TAPS HSA BANK AS TRUSTEE
Blue Cross Blue Shield of Arizona (Phoenix) will recommend that members use HSA Bank (Howards Grove, WI) to act as trustee for health savings accounts tied to high-deductible health plans.
|
|
BLUE CROSS-CA TARGETS 50,000 HSA LIVES IN 2005
WellPoint’s Blue Cross of California (Thousand Oaks, CA), which rolled out HSA-compatible high-deductible health plans last month, expects to have 50,000 subscribers by the end of 2005, according to Greg Baird, senior vice president, large group sales.
|
|
AMSG ADDS HDHPs FOR SMALL GROUPS
American Medical Security Group (Green Bay, WI), which is being acquired by PacifiCare Health Systems, has begun offering HSA-compatible high-deductible health plans to small groups.
|
|
EXCELLUS FINDS EMPLOYERS LIKELY TO OFFER HSAs
A survey sponsored by Excellus Blue Cross Blue Shield (Rochester, NY), which will offer HSAs effective January 2005, found that employers representing 36% of the upstate New York workforce are somewhat or very likely to offer a consumer-directed health plan within the next two years.
|
|
BCBS-MI BEGINS SELLING 5 HSA-COMPATIBLE HDHPs
Blue Cross Blue Shield of Michigan (Detroit) has begun selling five HSA-compatible high-deductible health plans, with coverage effective Jan. 1, 2005, as part of the rollout of a variety of hybrid PPO and HMO offerings.
|
|
WELLCHOICE WAITS STATE APPROVAL FOR HSAs, HRAs
WellChoice (New York), parent company of Empire Blue Cross Blue Shield, will begin offering high-deductible health plans coupled with both HSAs and HRAs effective January 2005, pending state regulatory approval.
|
|
|
|
