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August 2007
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HSA Market News, August 2007; Volume 4, Number 8
’07 HDHP rates rise 6.3%...Retail clinic shakeout likely…Extend raises $15 million…Chart: CDHP premium rates…Chart: CDHP rate hikes…BCBS-AZ to offer Blue bank…Employer HSA contributions…HSA plans no answer, study says…Trustmark adds HRA options…Aetna expands HSA plans…HealthEquity, Jack Henry partner…CDHPs mean opportunity…Drugstore.com offers HSA store…and more...
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’07 HDHP PREMIUMS RISE 6.3%, STUDY SAYS
HSA and HRA-compatible high-deductible health plan premium rates rose 6.3% in 2007, compared to a 4.8% increase in 2006, according to the annual Employer Health Benefits survey from the Kaiser Family Foundation and the Health Research and Educational Trust of the American Hospital Assn.
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RETAIL CLINIC SHAKEOUT LIKELY
A major shakeout among operators of retail clinics is likely in the next 18 to 24 months, according to a soon-to-be-released study from Corporate Research Group (New Rochelle, NY), publisher of this newsletter.
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EXTEND RAISES $15 MM FROM PSILOS
Extend Health Inc. (Burlingame, CA), which offers HRA plans and other health coverage options to employers, said it has raised $15 million from New York-based Psilos Group Managers.
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BCBS-AZ TO OFFER BLUE HEALTHCARE BANK
Blue Cross Blue Shield of Arizona (Phoenix, AZ) announced that beginning this month it will offer to its HSA plan members Blue Healthcare Bank as a health savings account option.
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EMPLOYER HSA CONTRIBUTIONS AVERAGE $688 SINGLE
Annual employer contributions to HRA plans are averaging $1138 single, $2105 family, according to a survey by United Benefit Advisors (Indianapolis), an association of independent benefit advisory firms.
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HSA PLANS “NO SOLUTION” TO HEALTH WOES, STUDY SAYS
“HSAs may be a useful product for some consumers, but they are by no means a solution to the major problems in today’s healthcare system,” said a study from the not-for-profit Bell Policy Center (Denver), citing various research on HSA enrollment trends and costs associated with these types of plans.
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TRUSTMARK ADDS HRA OPTIONS
Trustmark Group Benefits (Lake Forest, IL), a unit of Trustmark Mutual Insurance Co., has introduced three new options for its HRA health plan.
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LIFESPRING, NATIONAL CITY BANK OFFER REWARDS CARD
Lifespring Health (Palo Alto, CA), which offers a rewards program in which points can be redeemed to pay for healthcare expenses, announced that its Health Everyday Rewards Visa Credit Card is being issued through National City Bank (Cleveland).
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HEALTHEQUITY, JACK HENRY PARTNER
HealthEquity (Salt Lake City) will HSA administration services to the bank and credit union clients of Jack Henry & Associates Inc. (Monett, MO), a technology and data processing company, through a partnership between the two organizations.
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CDHP FRUSTRATION SPELLS OPPORTUNITY, STUDY SAYS
Consumer frustration with consumer-directed healthcare offers a huge business opportunity for healthcare and financial services firms, according to a study from Diamond Management & Technology Consultants Inc. (Chicago).
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