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May 2006
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HSA Market News May 2006; Volume 3, Number 5
’05 HSA plan premiums fall 17%...Fidelity launches new portal...McGuire calls for better system...VIEWPOINT: Fidelity takes on the future...Employers lack pricing data...Regence taps HSA Bank...BCBS-FL offers low-price plans...BCBS-VT taps First HSA...Horizon BCBS-NJ picks QCSI...HSA Bank wins Chamber...Msaver launches web site...UBM HSAs hold $50 million...Tax-Free HSA Act introduced...and more...
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’05 HSA PLAN PREMIUMS FALL 17%
Healthcare premiums overall may continue to be rising, but individual rates for HSA-compatible high deductible health plans are falling, according to data from online broker eHealthInsurance.
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FIDELITY OFFERS COST, RETIREMENT TOOLS
Fidelity Investments (Boston), which launched an HSA product in December, will offer account holders and employers an integrated online portal that allows members to obtain healthcare cost information and retirement planning tools.
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MCGUIRE CALLS FOR A BETTER SYSTEM
“When we talk about consumer healthcare, it’s on the premise about creating a better system and how we can make the health system work” on behalf of patients, said William McGuire, M.D., chairman of UnitedHealth Group (Minnetonka, MN).
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EMPLOYERS STILL LACK PRICING DATA, STUDY SAYS
Employers that are best at controlling healthcare costs tend to provide Internet tools that help employees to model healthcare options; however, most of these employers still don’t offer the type of information on provider quality and pricing that can help employees make cost-effective healthcare choices, according to research from Watson Wyatt and the National Business Group on Health, both based in Washington.
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CANTOR INTRODUCES TAX-FREE HSA ACT
Rep. Eric Cantor (R-VA) has introduced another bill that would increase HSA contribution limits, make premiums for HSA plans tax deductible, and allow the HSA holders to also have FSAs and HRAs.
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BCBS-FL LAUNCHES LOW-COST HEALTH PLANS
Blue Cross Blue Shield of Florida (Jacksonville, FL) has introduced a series of low-priced small group health plans—including HSA plan options—with premium rates averaging 50% less than traditional health plans offered by the company.
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HORIZON BCBS-NJ TAPS QCSI FOR CDHP TECHNOLOGY
Horizon Blue Cross Blue Shield of New Jersey (Newark) said it has enjoyed reductions in HSA enrollment set-up costs for members based on the rollout of software and technology from QCSI (Phoenix).
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