2006 Federal Employees Health Benefits Program Extends Aetna HSA and HRA Options to Federal Workers in 91 U.S. Markets; Both Offered at Lower Premium Rates in 2006
Posted on: Monday, 19 September 2005, 09:00 CDT
Aetna (NYSE:AET) announced today that the U.S. Office of Personnel Management (OPM) has agreed to expand the availability of two Aetna HealthFund(R) consumer-directed medical plan options into 46 new markets. The expansion makes the plans available to over 5.6 million eligible members of the Federal Employees Health Benefits Program (FEHBP) in a total of 91 U.S. markets. Aetna first introduced an HRA into the Federal program in 2004 and followed with the introduction of an HSA in 2005. Aetna maintains the largest HSA enrollment in the Federal program and both the HSA and HRA options will be offered at lower premium rates in 2006.
"Aetna is pleased to expand its participation in the Federal program with competitively-priced consumer-directed health benefits solutions," said Russ Dickhart, vice president, Government and Labor Business. "This year's expansion allows us to reach 72 percent of the eligible Federal population in 36 States and the District of Columbia."
In 2006, the Aetna HealthFund with HSA will be enhanced to include:
-- A lower premium
-- An increase in the automatic deposit dollars for health expenses; $125 monthly ($1,500 annually, up from $1,250) for single coverage and $250 monthly ($3,000 annually, up from $2,500) for family coverage into a Health Savings Account
-- A no-fee debit card; used to pay providers, pharmacies or to withdraw funds
-- More tax free investment options, such as asset allocation, fixed-income, U.S. and International equity fund options
-- The program will also continue to include dental benefits through a nationwide network of over 70,000 dentists - covering preventive dental at 100 percent before deductible
The OPM also announced Aetna Open Access(R) HMO will be offered in 20 states and the District of Columbia, providing over 280,000 current Federal members and any new members the freedom to see participating specialists without referrals. Connecticut and Washington join 18 other states offering this plan, which now also includes a dental PPO option.
Federal employees who select either Aetna HealthFund option will receive 100 percent coverage for in-network preventive care; a medical fund or a consumer-controlled account to help pay for eligible medical expenses; the opportunity to roll over unused account or fund dollars to pay for medical expenses in future years; freedom to choose the providers they wish to see for covered services; a cap that limits the total amount they pay annually for eligible expenses and online tools and information to manage their health.
Aetna's online tools include Aetna Navigator(TM), a secure and personalized member website which will give Federal employees access to resources including the HealthWise(R) Knowledgebase, hospital comparison tool, preventive care planner, DocFind(R) and online customer service. Federal employees can also call a team of Aetna registered nurses 24/7 at the Informed Health(R) Line for their health-related questions.
As one of the nation's leading providers of health care, dental, pharmacy, group life, disability and long-term care benefits, Aetna puts information and helpful resources to work for its approximately 14.435 million medical members, 12.976 million dental members, 9.117 million pharmacy members and 13.662 million group insurance members to help them make better informed decisions about their health care and protect their finances against health-related risks. Aetna provides easy access to cost-effective health care through a nationwide network of more than 684,000 health care professionals, including over 405,000 primary care and specialist doctors and 4,135 hospitals. For more information, please visit www.aetna.com. (Figures as of June 30, 2005).
Aetna HealthFund will be available to Federal Employees in AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, ID, IL, IN, KS, KY, LA, ME, MD, MA, MI, MS, MO, NV, NH, NJ, NY, NC, OH, OK, PA, SC, TN, TX, VA WA and WV.
Aetna Open Access will be available to Federal Employees AZ, CT, CO, DC, GA, IL, IN, KS, KY, MD, MO, NV, NJ, NY, OH, OK, PA, TN, TX VA and WA.
Aetna HMO will be available to Federal Employees in CA.
Source: Business Wire
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