Employers may also choose to offer a Flexible Spending Account (FSA), which the employee can fund with pre-tax dollars, in addition to the employer-funded health savings account. FSAs are often used to cover services excluded from traditional coverage, such as out-of-pocket costs, deductibles and coinsurance.
Unlike the employer-funded health savings account, funds remaining in FSAs at year’s end cannot be rolled over, in accordance with IRS regulations.
Employers also have the option to provide first dollar coverage for preventive services, such as annual physicals and mammograms, not subject to the annual deductible or deducted from the savings account.
The product includes access to Aetna Navigator, an online tool that enables participants to manage their health and expenditures on a securely online, while accessing information on health issues.
Aetna HealthFund is offered on a self-funded basis and can be customized for each employer. Annual PPO deductibles are expected to range from $1,500 to $3,000, while the employer-funded health savings account maximums are expected to range from $500 to $1,000 or higher.
Aetna serves 18.1 million health care members, 13.9 million dental members and 11.7 million group insurance customers.