Aetna Adding HSAs to its Consumer-Directed Offering

Aetna said in an announcement the new rollout was made possible with President Bush’s signature on the Medicare Prescription Drug, Improvement, and Modernization Act of 2003.   This legislation creates tax-deductible health savings accounts that permit unused balances to be carried forward from year to year and to be rolled over if the consumer changes employment.  

Aetna will offer HSAs as a complement to its CDHP product family, Aetna HealthFund .   Thus, the new HSAs will be offered alongside qualified indemnity, preferred provider, point-of-service and HMO plan designs, on both a self-funded and fully insured basis.   Aetna says this broad range of product designs, benefit options and funding arrangements will provide employers with greater choice and flexibility when choosing the product combination that best meets their needs.

Additionally, by integrating administration of the HSA with a health plan and other ancillary services, Aetna will offer a number of advantages that will make HSAs easy to use for both employers and employees, including:

• single claim submission
• access to Aetna’s provider network
• integrated reporting
• integrated pharmacy, dental and long-term care offerings
• Web-based self-service tracking for all health benefits
• nationwide coverage.