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Major HSA Vendor To Offer Mutual Funds

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CIGNA HealthCare is adding 6 mutual funds to its menu of health savings account investment options.[@@]

Consumers who have more than $2,000 in CIGNA ChoiceFund HSA plans will be able to put HSA assets in mutual funds starting Jan. 1, 2006, according to CIGNA HealthCare, Bloomfield, Conn., a unit of CIGNA Corp., Philadelphia.

About 65% of the consumers that CIGNA surveyed in 2004 about the idea of including mutual funds in HSAs said they liked the idea, CIGNA says.

A unit of J.P. Morgan Chase & Company, New York, will be serving as the broker-dealer, and another unit will manage 4 of the mutual funds on the HSA menu. The menu also will include the Royce Premier Fund and the T. Rowe Price International Growth & Income Fund.


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