Products December 2, 2004

BCBSNC Launches New HSA Product

December 2, 2004 (PLANSPONSOR.com) - Blue Cross and Blue Shield of North Carolina (BCBSNC) has announced the launch of a health savings account (HSA) product in tandem with Mellon Financial Corporation's Human Resources & Investor Solutions (HR&IS).
Reported by
Add as a preferred source on Google

The product, called HSA Blue, consists of a high-deductible health plan (HDHP) offered by BCBSNC and a HSA administered by Mellon.

HSA Blue will offer consumers a high-deductible Blue Options PPO plan. In combination with this, clients can invest money in an interest-bearing account with Mellon which is to be used for qualified medical expenses. The product will be available January 1, 2005, the day that HSAs take effect.

Never miss a story — sign up for PLANSPONSOR newsletters to keep up on the latest retirement plan benefits news.

Clients will also receive checks and a debit card on which they can draw funds from the HSA.

BCBSNC ( www.bcbsnc.com ) offers health care products to over 3 million members. Mellon HR&IS ( www.mellon.com ) is a human resources and shareholder services business.

«