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Mellon Gets N.C. Blue HSA Business

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NU Online News Service, Dec. 2, 2004, 4:10 p.m. EST

A large health insurer in the Southeast has picked a Pennsylvania bank to help manage clients’ health savings accounts.[@@]

Blue Cross and Blue Shield of North Carolina, Chapel Hill, N.C., has agreed to get health account services for members of its high-deductible Blue Options preferred provider organization plan from a unit of Mellon Financial Corp., Pittsburgh.

Mellon’s Human Resources & Investor Solutions unit will run Mellon’s HSA operation.

North Carolina Blue and Mellon will introduce an HSA program for groups Jan. 1, 2005. The companies say they will release a similar program for individuals later in 2005.

North Carolina Blue provides or administers health coverage for 3 million people.