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August 30, 2006
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August 2006; Volume 3, Number 8
Bush wants price transparency...WellPoint expands CDHPs...FL HSA uptake is 2.5%...GM eyes HSA enrollment gains...Golden Rule HSA penetration...Avotins on HSA technology...Chart: Aetna procedure charges...Banks see big HSA opportunity...HSA Banks mean balance grows...Chart: FL HSA plan details...KS finds little interest in HSAs...Chart: KS HSA plan details...U-KY get tiny HSA uptake...Chart: U-KY HSA plan details...Communication an HSA barrier...and more...
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BUSH PROMOTES PRICE TRANSPARENCY
President Bush signed an executive order last week directing federal agencies to share with beneficiaries information on both the price and quality of services provided by doctors, hospitals and other healthcare providers, according to the White House.
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WELLPOINT EXPANDS CDHP TO ALL GROUPS
WellPoint Inc. (Indianapolis), which had previously offered HRA and HSA plans only to national employers, has announced that it will offer the product to all group sizes as well as individual members beginning Jan. 1, 2007, pending local regulatory approval.
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FLORIDA GETS 2.5% UPTAKE ON HSA PLAN
The state of Florida has about 2.5% or 3300 of its 130,000 active employees enrolled in the HSA-compatible high-deductible health plans it began offering in January, according to Verla Lawson, benefits administration.
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GM LOOKS FOR ’07 HSA ENROLLMENT GAINS
General Motors (Detroit), which rolled out two HSA-compatible high-deductible health plans this year (HMN, January 2005), saw only modest enrollment in the plans, according to a spokeswoman; however, she said, the company expects an increase in 2007.
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STATE OF KS FINDS LITTLE INTEREST IN HSA PLANS TO DATE
The state of Kansas, which introduced an HSA compatible high-deductible PPO plan administered by Coventry in 2006, had enrolled just 67 of the state’s 87,600 lives in the plan as of August, according to a spokeswoman.
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UNIVERSITY OF KY HRA PLAN ATTRACTS TINY ENROLLMENT
The University of Kentucky (Lexington, KY) has just 75 of its 12,000 employees enrolled in a three-year-old self-insured consumer-driven plan that operates like an HRA-compatible plan, said Joey Payne, director of employee benefits and self-funded plans.
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BANKS SEE BIG OPPORTUNITY IN HSAs, KLUWER STUDY SAYS
Banks and financial institutions continue to view HSAs as a huge business opportunity, with 80% of 127 organizations already offering or planning a product, according to a survey by Wolters Kluwer Financial Services (Minneapolis).
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KAISER LAUNCHES HSAs IN CALIFORNIA
As expected (HMN, April 2005) Kaiser Permanente (Oakland, CA) announced that it has launched HSA-compatible high-deductible health plans in California, with coverage effective Jan. 1, 2007.
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COMMUNICATION IS KEY BARRIER TO HSAs, SURVEY SAYS
“Enrollment communication and support” was cited by 85% of brokers and agents as a key barrier to employee adoption of HSA plans, according to a survey sponsored by the National Assn. of Health Underwriters (Arlington, VA).
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GOLDEN RULE SAYS 41% OF MEMBERS HAVE HSAs
Golden Rule Insurance Co. (Indianapolis), a unit of UnitedHealth Group, reported that 41% of its customers were enrolled in health plans that included a health savings account.
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CDHP TECHNOLOGY MUST ENGAGE MEMBERS, AVOTINS SAYS
Michael Avotins, vice president of service operations for Blue Cross Blue Shield of Massachusetts (Boston), said that the emergence of FSAs, HRAs, and HSAs requires technology and processes that engage members, meet the growing market imperative, and maintain provider satisfaction.
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