Tuesday, August 16, 2005
Humana opens doors to small employers
["Humana to offer health savings accounts to all commercial groups," Louisville Business First, 28 July 2005.]
Business First reports that Humana is making it easier for even the smallest employers to offer their employees health coverage:
Humana Inc. is expanding its "Smart" family of consumer-driven products to include a health-savings account option for all commercial groups with at least two employees.
Humana's "Smart" plans include SmartSuite, SmartSelect and SmartExpress. SmartSuite and SmartSelect are for groups with 300 or more members, and SmartExpress is aimed at employers with between two and 299 employees.
Humana is offering various high-deductible health plans with the HSAs. Members with single coverage can choose deductibles ranging from $1,500 to $5,000, and deductibles for those with family coverage range from $3,000 to $10,000.
Coinsurance percentages associated with these plans are 100 percent in-network coverage and 70 percent out-of-network coverage, 90-60 or 80-50, respectively.
Starting this month, Humana HSA members will be able to access their funds by using a special HumanaAccess HSA Visa debit card when paying for medical services.
Mutual funds will be available for the investment portion of HSAs. Also, Humana will provide members with electronic and telephonic access to account balances, request reimbursements and other services.
Information on individual plans in Kansas is available here, and group plan information is available here.
[Matthew Hisrich, "HSAs Are Increasing Americans' Health Coverage," The Topeka Capital-Journal, 26 September 2004.]
["Humana to offer health savings accounts to all commercial groups," Louisville Business First, 28 July 2005.]
Business First reports that Humana is making it easier for even the smallest employers to offer their employees health coverage:
Humana Inc. is expanding its "Smart" family of consumer-driven products to include a health-savings account option for all commercial groups with at least two employees.
Humana's "Smart" plans include SmartSuite, SmartSelect and SmartExpress. SmartSuite and SmartSelect are for groups with 300 or more members, and SmartExpress is aimed at employers with between two and 299 employees.
Humana is offering various high-deductible health plans with the HSAs. Members with single coverage can choose deductibles ranging from $1,500 to $5,000, and deductibles for those with family coverage range from $3,000 to $10,000.
Coinsurance percentages associated with these plans are 100 percent in-network coverage and 70 percent out-of-network coverage, 90-60 or 80-50, respectively.
Starting this month, Humana HSA members will be able to access their funds by using a special HumanaAccess HSA Visa debit card when paying for medical services.
Mutual funds will be available for the investment portion of HSAs. Also, Humana will provide members with electronic and telephonic access to account balances, request reimbursements and other services.
Information on individual plans in Kansas is available here, and group plan information is available here.
[Matthew Hisrich, "HSAs Are Increasing Americans' Health Coverage," The Topeka Capital-Journal, 26 September 2004.]
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