|
|
|
| 
June 2005
|
HSA Market News June 2005; Volume 2, Issue 6
Small employers save with HSAs...FEHBP: 3889 in HSAs...United boosts HRA book...SPECIAL REPORT: HSAs add investment options...Exante, Fifth Third, First Horizon, HSA Bank, JPMorgan, Mellon, U.S. Bancorp, Wells Fargo...HSAs need investment, exec says...MM-OH has 7000+ HSA lives...PacifiCare expands HRA into TX...Kaiser rolls out HSA plan...WellPoint buys Lumenos...Bank of Sierra adds HSAs...CDPHP taps Mellon, HSA Bank...Flex offers new HSA options...Leesport takes stake in First HSA...CDHP members are engaged..and more...
|
|
HSA BANKS ROLL OUT INVESTMENT OPTIONS
Leading HSA banks have begun to roll out a wide variety of investment options that allow account holders to shift money into mutual funds and other types of investments.
|
|
SMALL EMPLOYERS SAVE WITH HSAs
Small employers, which have struggled the most with escalating health insurance costs, are experiencing savings by offering high-deductible health plans combined with HSAs, according to interviews with HMN.
|
|
FEHBP HAS 3889 EMPLOYEES IN HSAs
The Federal Employees Health Benefits Program has 3889 employees enrolled in high-deductible health plans incorporating HSAs, according to figures from the Office of Personnel Management.
|
|
PACIFICARE TO BOOST UNITED’S HRA LINE
The decision by UnitedHealth Group (Minnetonka, MN) to acquire PacifiCare Health Systems (Cypress, CA) for $8.2 billion comes with a little bonus: nearly 100,000 HRA lives, which PacifiCare serves through its Signature Freedom product (HMN, February).
|
|
BANK OF SIERRA LAUCHES HSA
Bank of the Sierra (Porterville, CA), the primary operating unit of publicly traded Sierra Bancorp, announced the availability of HSAs with a $15 set-up fee and a $2.50 monthly maintenance fee (the maintenance fee is waived for account balances of $1000 or more.
|
|
BCBS-NC’S GREYCZN SAYS HSAs REQUIRE BIG INVESTMENT
Bob Greczyn, chief executive of Blue Cross Blue Shield of North Carolina (Chapel Hill, NC), said that HSA plans require “significant investment in technology to integrate health insurance and financial services capabilities.”
|
|
MEDICAL MUTUAL-OH HAS 7000 TO 8000 HSA LIVES
Medical Mutual of Ohio (Cleveland) has about 7000 to 8000 group employees (not including dependents) enrolled in HSA-compatible high-deductible health plans, according to Aaron Graham, product manager.
|
|
FLEX BENEFIT SERVICE OFFERS 2 NEW HSAs
Flexible Benefit Service Corp. (Rosemont, IL), an HSA administrator, announced the introduction of two new HSA options through Millennium Trust, which provides HSA trustee services.
|
|
PACIFICARE EXPANDS CDHPs INTO TEXAS
PacifiCare Health Systems (Cypress, CA) said that it has expanded availability of its Signature Freedom HRA plan to individuals in Texas (HMN, February).
|
|
KAISER ROLLS OUT HSA PLANS IN OR, WA
Kaiser Permanente (Oakland, CA) is launching HSA-compatible high-deductible health plans for the group market, effective July 1, in Washington and Oregon, a spokesman told HMN.
|
|
CDPHP TAPS HSA BANK, MELLON AS HSA TRUSTEES
Capital District Physicians’ Health Plan (Albany, NY) has selected HSA Bank (Sheboygan, WI) and Mellon Financial Corp. (Pittsburgh, PA) to act as preferred HSA account trustees for enrollees in high-deductible health plans.
|
|
CDHPs MEMBERS ARE ENGAGED, DISSATISFIED, STUDY SAYS
Consumer-directed health plans “are delivering on their promise to increase consumer engagement and reduce utilization,” according to a survey by McKinsey & Co. of 2500 healthcare consumers, of which 1000 were members of a full-replacement group HRA plan for at least one year.
|
|
|
|
