Cigna HealthCare in Bloomfield, Conn., announced Thursday that it is expanding the availability of its consumer-driven Cigna Choice Fund Health Savings Account plans to businesses with 51-200 employees in North and South Carolina.
The HSA had previously been available only to companies with more than 200 employees. Cigna is offering the expanded availability now for plans that take effect on or after May 1.
The product 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 & Co., in an integrated benefits plan. In addition to financial products from JPMorgan Chase, the plan includes consumer decision-support tools that help people make decisions about their health care, track account balances online, and plan for health-care needs.
Cigna said that consumer-driven health plans can help employers manage costs by encouraging them to be more engaged in making health-care decisions.
