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March 2006
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HSA Market News March 2006; Volume 3, Number 3
MCO HSA, HRA lives grow...HSA plan lives hit 3.2 million...Cigna hires Definity executives...Chart: MCO HSA, HRA lives...United deals are key, UBS says...Sierra to launch HSA...HIP picks Amisys...Study stresses HSA portability...HSA Bank offers investments...Golden Rule members save...Sterling cites low drug costs...Independence Holding buys lives...FEHBP expands FSAs...NCPA takes on HSA critics...Employers expand HSAs...’06 HSA lives to top 7.4 million...and more...
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TOP MCOs HAVE 3.688 MM HSA, HRA LIVES
As of Dec. 31, 2005, 18 leading managed care organizations had a total of 3.688 million HSA and HRA lives combined, according to an HMN tally. United had the most members at 1.5 million, followed by WellPoint with 507,000 and Aetna with 406,000.
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HSA PLAN LIVES HIT 3.2 MM, AHIP SAYS
High-deductible health plans coupled with an HSA are growing at a rapid pace, according to data from the American Assn. of Health Plans (Washington), which reports 3.168 million HSA plan lives as of Jan. 1, 2006, more than triple the amount of just nine months ago.
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CIGNA HIRES FORMER DEFINITY EXECS
Cigna Corp. (Philadelphia) announced that it has boosted its consumer-directed healthcare management ranks with the addition of three former employees of UnitedHealth Group’s Definity Health. JoAnn Hoffman will serve as vice president of consumer strategy for Cigna HealthCare’s consumer-directed programs for large employers.
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HSA HOLDERS FOCUS ON PORTABILITY, SURVEY SAYS
The fact that HSAs are portable—meaning that like an IRA they are the property of the individual—is becoming a key reason why people sign up for health savings accounts, according to a survey from Information Strategies (Ft. Lee, NJ).
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FEHBP OFFERS FSA TO HSA PLAN MEMBERS
The Federal Employees Health Benefits Program announced that it will offer limited FSAs—allowing employees to pay for dental and vision expenses—to enrollees in HSA-compatible high deductible health plans.
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NCPA TAKES ON HSA CRITICS
The National Center for Policy Analysis (Washington)—a leading proponent of HSAs—took pains to clarify findings in a recent government study that HSA-compatible high deductible health plans tend to attract the young.
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ACQUISITIONS KEY TO UNITED CDHP STRATEGY, UBS SAYS
In a recent report on the outlook for the managed care industry, UBS analyst Justin Lake said that UnitedHealth Group (Minnetonka, MN) was “well positioned in the growing CDHP market” because of its acquisitions of Definity Health and Golden Rule.
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29% OF EMPLOYERS OFFER HRA, HSA PLANS, SURVEY SAYS
According to a survey from benefit consultant Watson Wyatt (Washington), 29% of employers are offering high-deductible health plans tied to HSAs or HRAs in 2006 and another 33% will offer such plans in 2007.
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SIERRA TO LAUNCH HSA PLAN IN NEVADA
Sierra Health Services (Las Vegas, NV), which has about 800 HRA members, will launch an individual HSA plan in Nevada, the company told HMN. Sierra expects to begin enrolling members in the plan in June.
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HSA LIVES TO TOP 7.4 MILLION IN 2006, ISI SAYS
Information Strategies Inc. (Palisades Park, NJ), which provides online insurance quotes to individuals and businesses seeking HSA plans, has projected that the total number of HSAs in the U.S. will top 7.4 million in 2006.
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HDHP MEMBER DRUG COSTS ARE LOW, STERLING SAYS
Sterling HSA (Oakland, CA) reported that members enrolled in high-deductible health plans at one of its largest union clients had average out-of-pocket drug costs of $13.93 per month, compared to $107 for members enrolled in traditional plans that have zero prescription deductible.
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INDEPENDENCE HOLDING CO. BUYS HDHP LIVES
In an effort to further build its consumer-directed healthcare presence, Independence Holding Co. (Stamford, CT) announced the acquisition of a block of small group major medical lives that generates $50 million in annual premiums.
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AMISYS WINS GHI
Group Health Inc. (New York) will use software from Amisys Synertech Inc. (Rockville, MD) to administer HSA plans under a three-year contract. ASI said that its software is being used by clients to administer 400,000 consumer-directed healthcare lives.
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