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June 2007
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HSA Market News, June 2007; Volume 4, Number 6
Top MCOs boost CDHP lives…Amex cancels health card…Brailer, Calpers in equity fund…Chart: MCO HSA, HRA lives…HSA adoption nears 5%...Health Net launches new HRA…Avalon raises $3.7 million…IHC taps Destiny for wellness…ConnectYourCare lands clients…Destiny launches MI plan…Medco offers CDHP tools…Golden Rule adds features…Herzlinger on CDHPs…CDHP pregnancy bills high…Employers eyeing, not buying…IRS seeks contribution changes…and more…
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TOP MCOs BOOST 1Q07 HSA, HRA LIVES 50%
Twenty-five leading managed care organizations had 6.414 million HSA and HRA lives as of March 31, 2007, up 50% from a year earlier, according to an HMN tally.
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AMEX CANCELS HEALTHPAY PLUS CARD
American Express (New York) confirmed that effective Dec. 31, 2007 it is canceling its healthcare credit card—called HealthPay Plus—which was designed to work in conjunction with HSA-compatible high-deductible health plans.
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BRAILER, CALPERS TEAM ON EQUITY FUND
The California Public Employees’ Retirement System (Sacramento, CA) announced that it would commit up to $700 million to a new equity fund aimed at investing in companies and initiatives that foster quality, efficiency and consumerism in healthcare.
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HERZLINGER OFFERS CONSUMER-DRIVEN CURE FOR HEALTH
In her new book “Who Killed Health Care?,” Harvard University professor Regina Herzlinger calls for a national universal healthcare initiative based on the principles of consumer-directed healthcare, including a mandate requiring everyone to purchase health insurance, subsidies for the poor and transparent price and quality data.
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PREGNANT? EXPECT BIG BILLS UNDER CDHC PLANS
Families can expect substantial out-of-pocket costs for maternity care under consumer-directed health plans, according to a study from the Kaiser Family Foundation (Menlo Park, CA) and the Georgetown Health Policy Institute (Washington).
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EMPLOYERS EYEING BUT NOT BUYING HDHPs, BROKERS SAY
Top brokers and agents say that a growing number of employers are considering high-deductible health plans coupled with an HSA or HRA, but not many are implementing these consumer-directed plans, according to a survey by the Council of Insurance Agents & Brokers (Washington, DC).
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AVALON RAISES $3.7 MILLION IN FUNDING
Avalon Healthcare Holdings (Tampa, FL), which offers HRA and HSA-compatible high-deductible health plans, said it has raised $3.7 million equity capital.
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IHC TAPS DESTINY FOR WELLNESS PROGRAM
Independence Holding Co. (Stamford, CT) said that beginning in the third quarter of 2007 it will offer along with its high-deductible health plans a wellness-based incentive program from Destiny Health (Beltsville, MD).
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CONNECTYOURCARE LANDS NEW ACCOUNTS
ConnectYourCare (Hunt Valley, MD), which provides online enrollment and administration tools for consumer-directed health plans, said it added more than 200 clients in the first half of 2007.
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MEDCO LAUNCHES CDHP TOOLS FOR DRUG PLANS
Medco Health Solutions (Franklin Lakes, NJ) has launched a suite of online tools to help members better evaluate and take advantage of consumer-directed drug plans.
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IRS WANTS TO ALLOW ACCELERATED HSA CONTRIBUTIONS
The Internal Revenue Service is proposing that employers who contribute to HSAs be allowed to accelerate contributions for employees whose medical care expenses at any particular time during the calendar year have exceeded the employer’s contributions.
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GOLDEN RULE ADDS FEATURES TO HEALTH PLANS
Golden Rule Insurance Co. (Indianapolis), a subsidiary of UnitedHealth Group, said it has beefed up its health plans with new high deductible options, expanded drug coverage, expanded maternity coverage, an increased lifetime maximum, accident coverage, and the elimination of waiting periods for wellness programs.
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