The Health Savings Account (HSA) product, which couples the HSA with a high deductible health plan (HDHP), was released last November to individual HumanaOne members and select commercial clients (See Humana to Offer HDHP to Individuals ).
In addition, according to a company press release, starting this month HSA members will be able to use a HumanaAccess HSA Visa debit card to pay for qualified services at their physician’s office or pharmacy.
Members who select the HSA product will have an HSA calculator available to them in Humana’s Open Enrollment Center to help them plan expenses and avoid excess contributions, according to the release.
The new offering is available to employers with two or more employees. The HDHP options with HSAs have single coverage deductibles ranging from $1,500 to $5,000 and family coverage deductibles from $3,000 to $10,000. Humana offers plans with coinsurance percentages of 100% in-network coverage and 70% out-of-network coverage as well as coverage of 90/60 and 80/50.
Humana will offer a variety of mutual funds in which to invest HSA accounts, and will provide online and telephone access to check HSA account balances and request reimbursements, according to the release.
UMB Bank, based in Kansas City, Missouri, will administer the HSA plans.
Humana offers health insurance products and related services to employer groups, government-sponsored plans, and individuals. For more information, the company’s web site is www.humana.com .
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