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Life Health > Health Insurance > Life Insurance Strategies

HSA Firms Add Products

By Staff Writer

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Companies in the health savings account market are rolling out new offerings this week.

Exante Bank Inc., Salt Lake City, a unit of UnitedHealth Group Inc., Minnetonka, Minn., is introducing a collection of 3 HSA designs.

- The Health eAccess HSA, is an account with a low monthly maintenance fee aimed at consumers with a relatively low HSA balance who want easy access to account funds.

- The Health eSaver HSA is aimed at HSA holders with higher HSA balances who want to earn higher interest rates but stick with accounts insured by the Federal Deposit Insurance Corp., such as bank certificates of deposit.

- The Health eInvestor HSA is aimed at holders with higher balances who want to be able to invest account assets in mutual funds.

The Health eSaver already is available, and the Health eAccess and Health eInvestor accounts will be available sometime after Sept. 30, Exante says.

Another company, HealthMarkets Inc., North Richland Hills, Texas, says its MEGA Life and Health Insurance Company is launching the CareOne Select HSA family of high-deductible, HSA-compatible plans.

The CareOne Select HSA plans, which are now available only in Michigan and Texas, offer detailed cost information about 20,000 procedures and services provided by 450,000 doctors, 4,000 hospitals and 26,000 “ancillary resources,” HealthMarkets says.

The CareOne Select HSA program also offers automatic reviews of all hospital bills over $10,000, to check for errors and overcharges, HealthMarkets says.

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