Cigna to offer HSAs to smaller employers

Cigna HealthCare will soon begin offering health savings accounts through JPMorgan Chase to New Hampshire employers with fewer than 50 employees.

Cigna said it is offering the expanded availability for HSA qualified plans that took effect on or after Jan. 1 in Arizona, North Carolina and South Carolina. The offering will be expanded to include employers and their employees in New Hampshire, Connecticut, California, New Jersey and New York during the first quarter of 2007, with further expansion planned throughout the remainder of the year, the company said.

The 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 get access to their accounts with JPMorgan Chase through a link available on their personal Web portal at 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.”