Plans Now Available to Businesses with Fewer than 50 Employees
BLOOMFIELD, Conn., Jan. 5, 2007 /PRNewswire-FirstCall/ -- CIGNA
HealthCare announced today that it is offering the availability of Health
Savings Accounts through JPMorgan Chase to employers with fewer than 50
employees. CIGNA is offering the expanded availability now for HSA
qualified plans that took effect on or after January 1, 2007 in Arizona,
North Carolina and South Carolina. The offering will be expanded to include
employers and their employees in Connecticut, California, New Hampshire,
New Jersey and New York during the first quarter of 2007, with further
expansion planned throughout the remainder of the year.
This new offering 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 Chase. Members will be able to
access their accounts with JPMorgan Chase through a link available on their
personal Web portal at http://myCIGNA.com.
"By expanding on CIGNA's existing relationship with JPMorgan Chase, we
are able to provide access to nationally respected products and services
that have not been available to small employers until now," said William
Roth, President of the Individual and Small Business Markets Segment for
CIGNA HealthCare. "By combining the expertise of CIGNA and JPMorgan, we are
also able to simplify the administration for small business employers and
their employees," added Roth.
In addition to dedicated service teams at both JPMorgan Chase and CIGNA
HealthCare, the new offering includes a broad array of CIGNA's
award-winning 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 key features of the plan, providing members access to
industry-leading clinical resources for managing chronic conditions and
accessing preventive care. And, members who set up their individual health
savings accounts with JPMorgan Chase have the advantage of cost savings and
competitive rates at one of the most trusted names in financial management
in the country.
"JPMorgan Chase is extremely pleased to be able to support CIGNA as it
expands its consumer directed healthcare offering to a new segment of the
marketplace. The integrated services we offer with CIGNA will enable small
employers to offer a new range of benefits to their employees," said David
Josephs, Vice President and Head of Consumer Directed Healthcare for
JPMorgan Chase.
Roth said that consumer driven health plans, such as the HSA qualified
health plan being introduced, can help employers manage costs by
encouraging employees to be more engaged in their health care decisions. To
introduce these new plans to employees, CIGNA HealthCare offers
communication and enrollment assistance to help employees learn about their
benefit choices and get the most out of their health plan.
About CIGNA HealthCare
CIGNA HealthCare, headquartered in Bloomfield, Connecticut, provides
medical benefits plans, dental coverage, behavioral health coverage,
pharmacy benefits, and products and services that integrate and analyze
information to support consumerism and health management. "CIGNA" or "CIGNA
HealthCare" refers to various operating subsidiaries of CIGNA Corporation
(NYSE: CI). Products and services are provided by these operating
subsidiaries and not by CIGNA Corporation.
The CIGNA HSA Savings Account is provided by JPMorgan Chase Bank, N.A.
Cash is deposited with and securities are custodied at JPMorgan Chase Bank,
N.A. Mutual funds are offered by and HSA Investment Accounts are provided
by J.P. Morgan Institutional Investments Inc., member NASD and SIPC, a
broker dealer affiliate of JPMorgan Chase Bank, N.A. Mutual funds are not
FDIC-insured, not bank guaranteed and may lose value.
SOURCE CIGNA HealthCare
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Related links:
http://www.cigna.com
http://myCIGNA.com
http://www.prnewswire.com/comp/165050.html /
CONTACT:
Lindsay Shearer, CIGNA HealthCare,
+1-603-268-7721, Lindsay.shearer@cigna.com
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