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February 2005
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HSA Market News February 2005; Volume 2, Number 2
SPECIAL REPORT: PEOs...PEOs see HSAs as good fit...ADP TotalSource, Employco, Employer Solutions, 1st Odyssey,General Personnel, OEM America,QTI Human Resources...Aetna takes on HSA integration...Employers test HSA waters...Rowe, Halvorson differ on HSAs...PacifiCare has 85,000 HRA lives...Aetna HealthFund tops 300,000...Assurant sees individual gains...FEHBP HSA uptake not known...Golden Rule launches Saver plan...National Health offers HSAs...Kaiser expands GA offerings...Intermountain offers HSAs...Cigna stresses care information...Blue-branded debit cards cleared...HSA Bank launches Reconciler...HSA Bank deposits rise 64%...Will workers skip care?...Plan comparison charts popular...HSA uptake is 3%, Hewitt says...Study finds uninsured buy HSAs...HSA group blasts study...Bush calls for expanding HSAs...and more...
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PEOs SEE HSA PLANS AS GOOD FIT
For professional employer organizations, which manage the human resources needs of small businesses on an outsourced basis, HSA-compatible high-deductible health plans are a natural fit.
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AETNA TO TAKE OVER HSA INTEGRATION
Aetna Inc. (Hartford, CT), which has used HSA Bank (Howards Grove, WI) as its preferred health savings account trustee for small groups, will end its relationship with the bank effective April and begin acting as HSA custodian for small group members on its own, the company announced.
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ROWE, HALVORSON DIFFER ON HSAs, HDHPs
John Rowe, M.D., chairman of Aetna Inc. (Hartford, CT), and George Halvorson, chief executive of Kaiser Permanente (Oakland, CA), came to very different conclusions about the efficacy of high-deductible health plans and HSAs to reduce costs and improve the quality of care for members, according to presentations at the World Health Congress in Washington, Jan. 31 to Feb. 1.
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HSA BANK LAUNCHES ACCOUNT REPORTING FUNCTION
Just days before Aetna announced that it would end its preferred relationship with the company (see story, this issue), HSA Bank (Howards Grove, WI) announced that it is offering health plans and third-party administrators an integrated record keeping service that provides health savings account holders with online access to HSA deposits, expenses, account balances and activity.
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EMPLOYERS FEAR WORKERS MAY SKIP CARE, SURVEY SAYS
More than 75% of employers believe that cost-sharing causes consumers to forgo needed medical care and has a negative impact on individuals with chronic conditions, according to a survey commissioned by the California HealthCare Foundation (Oakland, CA).
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PACIFICARE HAS NEARLY 85,000 HRA LIVES
PacifiCare Health Systems (Cypress, CA) reported that it had nearly 85,000 group lives in its Signature Freedom HRA plan (HMN, January 2005), with nearly 90% of the 5000 employers offering the product representing first-time PacifiCare customers.
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AETNA HAS 300,000+ HEALTHFUND LIVES
Aetna Inc. (Hartford, CT) has more than 300,000 members in its HSA and HRA-compatible HealthFund consumer-directed health plan, according to John Rowe, M.D., chairman.
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ASSURANT SEES GAINS IN INDIVIDUAL HSAs
Assurant Inc. (New York) reported that gains in premium revenues at its health segment in 2004 were attributable in part to successful introduction of individual health insurance policies that included an HSA.
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FEHBP HSA PENETRATION STILL NOT KNOWN
Just how many federal employees have enrolled in HSA-compatible high-deductible health plans? According to the U.S. Office of Personnel Management, which administers the Federal Employees Health Benefits Program, the figures aren’t in yet.
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GOLDEN RULE LAUNCHES CATASTROPHIC “SAVER” PLAN
UnitedHealth’s Golden Rule Insurance Co. (Indianapolis), a pioneer in HSA administration, has expanded its existing product line with three low-cost health plans called “Saver,” which provide coverage for costly medical expenses such as hospital confinements, outpatient surgeries and CAT scans, while limiting routine expenses such as physician office visits and preventive care.
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NATIONAL HEALTH ACCESS OFFERS UNITED, HUMANA HSAs
National Health Access, the voluntary health insurance initiative sponsored by the HR Policy Assn. (Washington), will offer HSA-compatible high-deductible health plans from UnitedHealth Group and Humana among its various coverage options.
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CIGNA NOT FOCUSED ON HSA ACCOUNT REPORTING
Cigna Corp. (Philadelphia) isn’t currently focusing its HSA technology development efforts on being able to provide members with reporting on HSA account activity, according to Scott Storrer, senior vice president of information technology.
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PLAN COMPARISON CHARTS ARE POPULAR, HEWITT SAYS
Health plan comparison charts, which show the varying cost and coverage levels of different health insurance options, are the most popular online tool among employees, according to Hewitt Associates (Lincolnshire, IL).
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HSA UPTAKE JUST 3%, HEWITT SAYS
Only 3% of employees who were offered an HSA-compatible health plan enrolled as of January 2005, according to benefit consultant Hewitt Associates (Lincolnshire, IL).
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A THIRD OF HSA BUYERS ARE UNINSURED, STUDY SAYS
One third of consumers who purchased an HSA-compatible high-deductible health plan through online broker eHealthInsurance (Mountain View, CA) last year were previously uninsured, according to a study released by the company.
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HSA COALITION BLASTS COMMONWEATH FUND STUDY
HSA Coalition (Washington), a lobbying group promoting health savings accounts, lashed out at a recently released study by the Commonwealth Fund (Washington), which found that increased cost sharing causes patients to forego filling prescriptions and skip needed medical treatments and tests.
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BUSH CALLS FOR EXPANDING HSAs
President Bush called on lawmakers to “move forward on a comprehensive healthcare agenda,” including expanded health savings accounts, in his State of the Union address.
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