CIGNA, JPMorgan Team Up in HSA Expansion

The agreement brings new financial transaction capabilities to the CIGNA Choice Fund Health Savings Account, which is available now for employer plans taking effect on January 1, 2005.

Features of the CIGNA Choice Fund HSA in 2005 include:

• A tax-advantaged interest-earning or investment account;
• A debit card and checkbook that allow members to pay for medical expenses directly from their accounts;
• Automatic claim roll-over that allows account holders to choose to have their accounts automatically debited instead of manually submitting forms;
• An integrated approach that provides one customer service and Web experience for members to manage their HSA.

Other Features

In addition to the financial and investment offerings of JPMorgan, the CIGNA Choice Fund HSA includes access to a provider network and medical management programs that promote preventive care, help members manage chronic conditions, and help coordinate care for members with immediate health problems, according to the firms.

The CIGNA Choice Fund HSA also includes access to an array of consumer decision support tools that encourage consumers to make informed decisions about their health care, help them track account balances online, and help them plan for future health-care needs.   Members also gain access to an online plan comparison tool that allows them to compare the potential out-of-pocket costs of the various CIGNA health plans offered by their employers, providing them with information and guidance for choosing the best CIGNA plan for themselves and their families.

Members also have access to the company’s disease management programs for those with asthma, low back pain, diabetes, congestive heart failure, coronary artery disease, and chronic obstructive pulmonary disease, and specialized case management services for members with complex medical needs.