JERSEY CITY, N.J., March 22, 2005 /PRNewswire-FirstCall/ -- CIGNA HealthCare today announced that it is expanding the availability of its popular consumer-driven CIGNA Choice Fund(SM) Health Savings Account (HSA) plan to businesses with 51-200 employees in the New York and New Jersey markets. The CIGNA Choice Fund HSA had previously only been available to employers with more than 200 employees. CIGNA is offering the expanded availability now for plans that take effect on or after June 1, 2005.
“Small business employers in the area have told us that in addition to the traditional HMO and PPO products we already have available, they also want the flexibility, savings and consumer-focused approaches that our HSA offers,” said Charlie Catalano, General Manager of CIGNA HealthCare in New York and New Jersey. “We are pleased to add this new option to our existing portfolio of products for the employer with 51-200 employees as they’re selecting their benefit offerings for the coming year.”
The CIGNA Choice Fund HSA combines a tax-advantaged savings account with a high-deductible health plan and financial management features, such as a debit card and checkbook from JPMorgan, all in an integrated benefits plan. In addition to the financial offerings of JPMorgan, the plan includes a broad array of consumer decision support tools that encourage consumers to make informed decisions about their health care, help them track account balances online and help them plan for future health care needs. CIGNA HealthCare’s extensive provider network and medical management programs are also key features of the plan.
Catalano said that consumer-driven health plans, such as the CIGNA Choice Fund HSA, can produce long-term savings by getting employees more engaged in their health care decisions. To help introduce employees to these new plans, CIGNA HealthCare offers communication and enrollment assistance to help employees learn about their benefit choices and get the most out of their health plan.
CIGNA HealthCare, headquartered in Bloomfield, Connecticut, provides medical benefits through managed care and indemnity health care plans, dental coverage, behavioral health coverage, and pharmacy benefits. “CIGNA” or “CIGNA HealthCare” refers to various operating subsidiaries of CIGNA Corporation . Products and services are provided by these operating subsidiaries and not by CIGNA Corporation.
CIGNA HealthCare
Contact: Patricia Caballero, CIGNA, +1-201-533-5028,Patricia.caballero@cigna.com
Web site: http://www.cigna.com/
Company News On-Call: http://www.prnewswire.com/comp/165050.html