Aetna Expands and Enhances Aetna HealthFund Family; Sees Substantial Consumer-Directed Membership Growth.HARTFORD, Conn. -- Aetna (NYSE NYSE See: New York Stock Exchange :AET AET Aetna, Inc. AET After Extra Time AET Actual Evapotranspiration AET Alliance for Environmental Technology AET Alpha-Ethyltryptamine AET Applied Extrusion Technologies, Inc. ) --New Features for 2005 Include Integrated HSA HSA Health Savings Account (US) HSA Human Serum Albumin HSA Human Services Agency (Nevada) HSA Health Services Agency HSA Health and Safety Authority (Ireland) Products for Employers of All Sizes and Individuals, as Well as Debit Card debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. and Checkbook Access to Accounts --Aetna HealthFund(R) Membership More Than Doubles between 2004 and 2005 Aetna (NYSE:AET) announced today that it is enhancing and expanding its Aetna HealthFund family of products in 2005 as part of a commitment to offering innovative consumer-directed solutions to employers of all sizes. New features include: --An integrated Aetna HealthFund Health Savings Account A Health Savings Account (HSA) is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a High Deductible Health Plan (HDHP). The funds contributed to the account are not subject to federal income tax at the time of deposit. (HSA) product for small employers and individuals, meaning that Aetna will now administer and integrate both the High-Deductible Health Plan and the HSA for customer groups of all sizes as well as individuals. --Convenient access to HSA funds via a checkbook or debit card. In addition, the company noted that Aetna HealthFund membership has more than doubled since January 2004, to 370,000 members as of January 1, 2005. An integrated Aetna HealthFund HSA product has been effective for middle-market and large national employers since June 1, 2004. It will be effective for employers with 50 or fewer employees and individuals as of May 1, 2005. "Aetna's ability to integrate a full range of consumer-directed products for employers of all sizes is a key differentiator in the marketplace," said Aetna President Ronald A. Williams. "This integration offers employers one-stop shopping for purchasing a health benefits plan and related benefits, such as our fully integrated pharmacy offering, as well as dental plans, long-term care long-term care (LTC), n the provision of medical, social, and personal care services on a recurring or continuing basis to persons with chronic physical or mental disorders. and life insurance options. For members, it simplifies their ability to seamlessly access coverage from their HSA and their health plan, and allows them to easily track their medical benefits and account balances online with round-the-clock convenience." The checkbook and debit card enhancements provide easy access to HSA accounts via two familiar methods - writing a check or swiping a debit card. These features will be available to HSA members effective May 1, 2005. Aetna will continue to be the custodian bailee (custodian) n. a person with whom some article is left, usually pursuant to a contract (called a "contract of bailment"), who is responsible for the safe return of the article to the owner when the contract is fulfilled. for its HSA accounts, meaning that customers and members can work directly with Aetna for both their health plan and their HSA. "Aetna has long believed in the power of the consumer to help control health care costs and improve health care quality. That's why we continually enhance our consumer-directed product portfolio and back it with a solid infrastructure of consumer tools, education and health management programs," said Williams. "We believe that employers are choosing Aetna not only because we offer a broad range of products, but because we empower empower verb To encourage or provide a person with the means or information to become involved in solving his/her own problems their employees with information to help them choose a plan, make well-informed decisions once they're in the plan, and better manage their health." Zions Bank, a Salt Lake City, Utah-based operator of more than 400 full-service banks in the western United States Noun 1. western United States - the region of the United States lying to the west of the Mississippi River West Santa Fe Trail - a trail that extends from Missouri to New Mexico; an important route for settlers moving west in the 19th century , is one employer that chose to offer Aetna HealthFund HSA to its employees for January 1, 2005. More than 30 percent of its 6,200 eligible employees chose the new offering, in part because of an intensive educational effort that included on-site informational meetings and informative materials delivered to each employee. "While there was no question that we needed to incorporate health care consumerism consumerism Movement or policies aimed at regulating the products, services, methods, and standards of manufacturers, sellers, and advertisers in the interests of the buyer. into our benefits strategy, we also felt it was important to introduce it in a way that would help our employees understand these new options and make well-informed decisions," said Diana M. Andersen, vice president, corporate benefits director, Zions Bancorporation Zions Bancorporation (NASDAQ: ZION) is a member of the S&P 500, a bank holding company headquartered Salt Lake City, Utah. Its star subsidiary is NSB Public Finance. . "Aetna partnered with us in this endeavor and showed a deep knowledge of consumer needs by developing a strategy that engaged our employees in the process and helped them to understand the options." Aetna expects to announce further enhancements to its HSA products in 2005, including the addition of long-term investment options. More details about these options will be available in the second quarter. Aetna launched its first-generation Aetna HealthFund Health Reimbursement Reimbursement Payment made to someone for out-of-pocket expenses has incurred. Arrangement (HRA HRA Health Reimbursement Arrangement HRA Health Risk Assessment HRA Housing and Redevelopment Authority HRA Human Resources Administration HRA Health Reimbursement Account HRA Housing Revenue Account ) product in September 2001. Since that time, the Aetna HealthFund family has expanded to include HRAs, HSAs and Retiree Reimbursement Accounts (RRAs), providing consumer-directed solutions to employers of all sizes and meeting consumers needs at all stages of life. Aetna HealthFund leverages Aetna's unique resources, including one of the largest networks of physicians, dentists Dentists can refer to one of the following:
As one of the nation's leading providers of health care, dental, pharmacy, group life, disability and long-term care benefits, Aetna puts information and helpful resources to work for its approximately 13.7 million medical members, 11.9 million dental members, 8.4 million pharmacy members and 13.5 million group insurance members to help them make better informed decisions about their health care and protect their finances against health-related risks. Aetna provides easy access to cost-effective health care through a nationwide network of more than 655,000 health care professionals, including over 390,000 primary care and specialist doctors and 3,937 hospitals. For more information, please visit www.aetna.com. (Figures as of December 31, 2004) |
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