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October 2007
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HSA Market News, October 2007; Volume 4, Number 10
MCOs have 6.6 MM CDHP lives…CDHP costs run 4% less…Principal waives HSA/HRA fees…Cigna CDHP cost trends…WellPoint teams with Zagat…United CDHP lives rise 24%...WellPoint offers Lumenos in VA…Aetna has 980,000 CDHP lives …CCA names Golinkin president…Metavante beefs up HSA portal…ESRX buys administrator…
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TOP MCOs HAVE 6.6 MILLION HSA, HRA LIVES
As of June 30, 2007, 23 leading managed care organizations had a total of 6.6 million HSA and HRA lives combined, an increase of 50% from 4.4 million as of June 30, 2006, according to an HMN tally.
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PRINCIPAL PICKS UP TAB ON HSA, HRA FEES
Principal Financial Group (Des Moines, IA) said it will waive HSA set-up fees and HRA monthly maintenance fees for a year for clients who sign up for the company’s high-deductible health plans between Nov. 1 and Jan. 31, 2008.
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CIGNA SAYS CDHP COST TRENDS ARE HALF HMO, PPO
Cigna Corp. (Philadelphia) reported that medical costs for members of the company’s consumer-directed health plans rose just 4.4% in the second year of enrollment, compared to 9.8% for members in the second year of enrollment in more traditional HMO and PPO plans.
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CONVENIENT CARE ASSN. NAMES GOLINKIN PRESIDENT
The Convenient Care Assn. (Philadelphia) has named as its president Web Golinkin, president and CEO of RediClinic (Houston, TX). Golinkin replaces Hal Rosenbluth, chairman of Take Care Health Systems, who served as the association’s first president.
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UNITED CDHP MEMBERSHIP RISES 24%
UnitedHealth Group (Minnetonka, MN) reported 2.29 million consumer-directed health plan members as of Sept. 30, 2007, up 24% from 1.85 million a year earlier. United ended 2006 with about 2 million HRA and HSA members (HMN, April 2007).
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METAVANTE BEEFS UP HSA PORTAL WITH SUPPORT TOOLS
Metavante Corp. (Milwaukee), a division of Marshall & Ilsley, said it has streamlined the online enrollment features of its HSA technology platform and added enhanced decision-support tools for members, including financial calculators, access to both deposit and investment balances with a single debit card, and enhanced recordkeeping for regulatory reporting. Metavante said it reengineered its HSA technology offering after conducting research on features most important to consumers.
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EXPRESS SCRIPTS BUYS CONNECTYOURCARE
Express Scripts Inc. (St. Louis) has announced the acquisition of consumer-directed healthcare administrator ConnectYourCare (Hunt Valley, MD) from Steve Case’s Revolution Health (Washington).
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AETNA 1Q07 HSA, HRA LIVES RISE TO 980,000
Aetna Inc. (Hartford, CT) said it had 980,000 members in its HealthFund family of HSA and HRA-compatible high deductible health plans as of Sept. 30, 2007, up 52% from the same period a year earlier.
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