Tax-Favored John Alden Medical Savings Account (MSA) Plans Provide An
Affordable, Innovative Employee Benefit, Ideal for Family-Owned Businesses
MILWAUKEE, Nov. 18 /PRNewswire/ -- As small business owners scramble to
find health insurance they can afford, John Alden Life Insurance Company
introduces an affordable option for North Carolina -- Medical Savings Accounts
(MSAs). Designed for groups of three to 50, John Alden MSA Plans provide a
desirable benefit program that helps attract and retain valuable employees --
often at 20- to 30-percent less than traditional health insurance premiums.
John Alden is a legal entity of Fortis Health -- the nation's leading provider
of Medical Savings Accounts (MSAs).
An innovative solution for small business owners
John Alden MSA Plans have two components -- a high-deductible medical
insurance plan and a tax-favored Medical Savings Account, set up to pay for
qualified medical expenses, that holds funds contributed by either the
employer or employee. The combination presents employers with an affordable
and flexible benefit for employees.
"John Alden MSAs are especially ideal for small, family-owned businesses
as an innovative way to invest in the family's future through the retirement
savings the accounts can provide," said Bob Bartlett, Vice President of Sales,
Georgia and North Carolina, for North Star Marketing, the national sales and
distribution division of John Alden. "MSAs are a smart solution for employers
who are looking to save money without foregoing health insurance for their
staff."
Solid protection for employees
Tax-exempt MSA funds can be used by employees to pay health plan
deductibles and qualified medical expenses -- including those not covered
under the insurance plan, which covers more major medical needs. Savings roll
over from year to year, accumulate tax-deferred interest with investment
options, and can be used after age 65 to supplement retirement income. Unlike
Health Reimbursement Accounts or Flexible Spending Accounts, the money in an
MSA is portable if the employee leaves the company.
Administered by MSAver, a nationally recognized leader and provider of MSA
services, the plan provides easy access to funds through its Premier Plus
Debit Card. The card can be used to pay for qualified medical expenses at the
time of service. An MSAver Checking Account is available for employees who
prefer to write checks.
Initially, John Alden MSA Plans will be offered in eight states --
Georgia, Illinois, Indiana, Nevada, North Carolina, Ohio, Texas and Wisconsin
-- as part of a pilot program intended for nationwide expansion. Business
owners may obtain quotes beginning November 18, 2002, and plans are available
on January 1, 2003, from a North Star Marketing representative at
1-877-225-5077 or via msa@nstarmarketing.com .
About Fortis Health:
Fortis Health is committed to helping Americans meet their health
insurance needs. In business since 1892, the company is a leader in the
Individual Medical, Small Group, Short-Term and Student Health insurance
markets, and the nation's leading provider of MSAs. Fortis Health provides
coverage for more than one million people nationwide. Its products are
underwritten and issued by Fortis Insurance Company, John Alden Life Insurance
Company and Fortis Benefits Insurance Company. Fortis Health is headquartered
in Milwaukee, Wisconsin, and has operations offices in Minnesota, Florida,
Idaho and Ohio, with sales offices throughout the country.
Fortis Health is part of Fortis, Inc., a financial services company that,
through its operating companies and affiliates, has built leadership positions
in a number of specialty insurance market segments. Fortis, Inc. is part of
Fortis, a financial services provider active in the fields of insurance,
banking and investment. As of year-end, 2001, Fortis had total assets in
excess of $400 billion. Fortis ranks 31st based on assets and 85th based on
revenues on the Fortune "Global 500" (July 22, 2002) and 38th on the Forbes
Global "Super 50" list (July 3, 2002).
Fortis Health can be found on the Internet at http://www.fortishealth.com .
SOURCE Fortis Health
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Related links:
http://www.fortishealth.com
CONTACT:
Seroka Public Relations for Fortis Health,
+1-262-523-3740, or kristin@seroka.com
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