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February 2007
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HSA Market News, February 2007; Volume 4, Number 2
HSA deposits top $1.5 billion…BCBS Bank publishes fees…Assurant names Bal COO…Chart: HSA bank deposits…Aetna has 675,000 CDHP lives…Humana Smart lives up 13%...WageWorks names CEO…First HSA taps tech vendor…IRA issues rollover guidance…CA hospital grading tool…and more…
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24 BANKS HAVE $1.5 BB IN HSA DEPOSITS
Twenty-four leading banks had 1.152 million health savings accounts with an estimated $1.479 billion in total deposits as of Dec. 30, 2006, according to a tally by HMN.
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BCBS BANK PUBLISHES FEES, RATES
The Blue Cross Blue Shield Assn. (Washington), which recently received its charter to operate Blue Healthcare Bank (Sandy, UT) for healthcare-related accounts, including HSAs, HRAs and FSAs, will charge an HSA set-up fee of $10 for online setup, plus a monthly maintenance fee of $3.
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ASSURANT NAMES BAL COO, HEALTH LINES
As part of a broad reorganization into two business areas, Assurant Health (Milwaukee) has named Rajeev Bal chief operating officer of a newly formed segment that encompasses the company’s existing health insurance product lines, including individual, HSA, small group and specialty lines.
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AETNA HAS 676,000 HSA, HRA LIVES, UP 49%
Aetna Inc. (Hartford, CT) said it ended 2006 with 676,000 consumer-directed healthcare lives in its HealthFund family of HRA and HSA-compatible high deductible health plans, up 49% from 2005.
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HUMANA HAS 437,900 SMART LIVES IN 2006, UP 13%
Humana Inc. (Louisville, KY) had 437,900 lives in its Smart Suite and Smart Select line of products in 2006, up 13% from 2005. Smart Suite and Smart Select includes HSAs and HRAs as options along side other more traditional products.
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WAGEWORKS NAMES JOE JACKSON CEO
WageWorks Inc. (San Mateo, CA) has named Joe Jackson chief executive, replacing company founder Jon Kessler, who will remain executive chairman of the company.
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FIRST HSA TAPS HEALTH SAVINGS TECHNOLOGY
First HSA (Reading, PA) will use connectivity software from Health Savings Technology (Irving, CA) to power the company’s online consumer-directed administrative portal.
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CA FOUNDATION OFFERS HOSPITAL GRADING TOOL
At presstime, the California HealthCare Foundation (Oakland, CA) announced a free, public web site allowing consumers to compare quality and patient satisfaction measures for 200 California hospitals. Users can search for hospitals by location, name or medical condition and compare hospital ratings for 50 performance indicators. More details will appear in the next issue of HMN.
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