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March 2008
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HSA Market News, March 2008; Volume 5, Number 3
Bill seeks HSA substantiation…Studies conflict on HSA gains…’07 CDHP lives rise 25%...Humana taps CardWorks…Clear Choice offers HSAs…CDHPs must build relationships…Bank taps HSA Clearing…On-site clinics poised for gains…Manufactures consider CDHPs…and more…
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STUDIES CONFLICT ON HSA GAINS
Two recently released studies appear to offer different viewpoints on the growth of HSAs. A survey of 500 employers by Hewitt Associated (Lincolnshire, IL) found that just 20% offer an HSA or HRA health plan option and less than 6% plan to adopt one in 2008
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’07 CDHP LIVES UP 25% TO 12.5 MILLION
A new study from Mercer Inc. (Washington) shows that enrollment in consumer-directed health plans grew 25% to 12.5 million in 2007 from about 10 million in 2006.
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HUMANA TAPS CARDWORKS FOR VISA CARD SUPPORT
CardWorks Servicing (Woodbury, NY), a provider of customer service and support to credit card issuers, announced that it has won a contract to service an interest-free Visa card from Humana Inc. (Louisville, KY) that allows members to charge medical co-pays, deductibles and other healthcare expenses not covered by insurance. CardWorks said it will partner on the Humana card with E-Duction Inc. (Blue Bell, PA), which provides payroll deduction software.
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HSA CLEARING LANDS COMMUNITY BANK
Community Bank of the South (Smyrna, GA) will use applications from HSA Clearing Corp. (Lake Geneva, WI) to enable customers to enroll in health savings accounts.
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FROST & SULLIVAN SAYS CDHPs MUST FOCUS ON MEMBERS
In a consumer-driven world, health plans must begin to treat members as valued customers and address the stigma of being known for building relationships with employers rather than the members themselves, according to consulting firm Frost & Sullivan (Palo Alto, CA).
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ON-SITE CLINICS POISED FOR CONTINUED GROWTH
On-site healthcare clinics—i.e., clinics located on corporate campuses, workplaces, factories, etc. to be accessed by company employees—remains a rapidly growing market poised for continued expansion, according to a new report from Corporate Research, publisher is this newsletter.
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CLEAR CHOICE OFFERS HSA PLANS IN MONTANA
Physician-owned Clear Choice Health Plans (Bend, OR) announced that it is offering HSA-compatible high-deductible health plans along with more traditional PPO plans in Montana. The company serves a total of about 40,000 members in Oregon and Montana.
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21% OF MANUFACTURERS WOULD CONSIDER CDHPs
A survey from the National Assn. of Manufacturers (Washington) found that if healthcare costs continued to rise at the current pace, nearly 21% of manufacturing companies surveyed would switch to an HSA or HRA health plan.
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