LATEST NEWS The Denver Business Journal - 3:52 PM MDT Thursday
CIGNA expanding HSA plan
CIGNA HealthCare said Thursday that it is expanding the availability of its Health Savings Account (HSA) plan to businesses with 51-200 employees in Colorado market, beginning July 1.
The plan previously only had been available to employers with more than 200 employees.
HSAs have been widely discussed as a way to get a handle on rising health care costs. HSAs pay for certain medical expenses not covered by insurance, including eyeglasses and dental care. Individuals are allowed to contribute pretax money into the accounts.
"Small business employers in the area have told us that in addition to the traditional HMO and PPO products we already have available, they also want the flexibility, savings and consumThursday, November 04, 2004 9:38:15 PM> The CIGNA Choice Fund HSA combines a tax-advantaged savings account with a high-deductible health plan and financial management features, such as a debit card and checkbook from JPMorgan. The plan also includes tools to help consumers make informed decisions about their health care, help track account balances online and plan for future health care needs.
Edmonds said that consumer driven health plans can produce long-term savings by getting employees more engaged in their health care decisions.