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Consumer-Directed HSA Plan From Health Net of California Available to Individuals, Companies of Any Size

Posted on: Wednesday, 27 September 2006, 12:00 CDT

Individuals who do not have employer-sponsored health insurance, as well

as employers of any size, now can purchase EZAccess HSAsm

from Health Net of California. EZAccess HSA offers a choice of low-cost,

high-deductible preferred provider organization (PPO) health insurance

plans paired with an individually owned health savings account (HSA)

from Wells Fargo Bank, N.A.

"Our consumer-directed plans are perfect for

those who are looking for low-cost coverage that provides greater

personal control of health care dollars and rewards informed health care

decisions," said Stephen Lynch, president and

CEO of Health Net of California. "This is

another example of Health Net's commitment to

providing affordable benefits and access to quality care."

With the EZAccess HSA, preventive care (for both children and adults) is

covered without being subject to deductibles. And by paying for their

remaining qualified medical expenses through an HSA, members may save,

invest and spend their health care dollars free of federal taxes. In

many cases, employer contributions to employees'

HSAs are not subject to FICA or FUTA taxes. EZAccess HSA account holders

receive two complimentary Wells Fargo HSA cards, which provide "easy

access" to their funds and work at all

eligible health care providers that accept Visa®

debit cards.

The number of Americans using consumer-directed health plans (CDHPs)

approximately doubled between January 2005 and January 2006, according

to the U.S. Government Accountability Office. And the number of large

employers offering consumer-directed plans rose from 3 percent to 20

percent between 2003 and 2005, according to the Kaiser Family Foundation.

One of the driving forces behind the popularity of CDHPs is their

ability to better educate members about medical costs and provide an

incentive for them to make cost-conscious decisions about their health

care. To help its members make informed health care decisions, Health

Net offers a robust decision-support system called Decision Powersm.

Decision Power provides 24/7 access to Health Coaches, specially trained

and experienced professionals -- such as

nurses, dietitians and respiratory therapists --

who are skilled at providing evidence-based health information and

coaching support to help members better evaluate their available health

care choices. And Decision Power provides independent access to

information resources and online tools, as well as support videos, as

appropriate, to assist members in making better health care decisions.

Other Health Net online decision-support tools include a hospital

comparison report that provides independent analysis of area hospitals,

access to evidence-based medical treatment information, and health

surveys.

For information about Health Net's

consumer-directed health plans, individuals and small businesses may

call 1-800-909-3447. Brokers may call 1-800-448-4411, extension 4.

Health Net of California, a subsidiary of Health Net, Inc. (NYSE:HNT),

is one of the largest health plans in the state, serving nearly 2.3

million members statewide. It contracts with more than 51,000

physicians, 300 hospitals and 4,600 pharmacies, giving its members

greater choice and more convenient access to care. Its commercial, POS

and Medicare lines of business have received the "excellent"

accreditation status from the National Committee for Quality Assurance.

For more information about Health Net, please visit its Web site at www.healthnet.com.

Source: Business Wire

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