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ConnectiCare, Inc. News
Web Site:
http://www.connecticare.com
175 Scott Swamp Rd.,
P.O. Box 4050,
Farmington, CT 06032
Tel: (800) 251-7722
ConnectiCare is a leading health plan in the state of Connecticut serving individuals, families, and businesses for more than 33 years.
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- Managed care company, ConnectiCare will be the f ...
June 20, 2004
- Managed care company, ConnectiCare will be the first HMO plan in the country to offer a high-deductible HMO health plan compatible with the long-awaited Health Savings Accounts (HSAs). Employers have been eager for this option as they seek to reduce their health insurance premiums, while maintaining the positive benefits of a comprehensive managed care plan for their employees. ConnectiCare's approval means that Connecticut employers will be the first to enroll in the products, initially to be available through 72 statewide Chambers of Commerce offices representing the Chamber Insurance Trust based in Orange, Connecticut. ConnectiCare will provide the HSA compatible HMO plan while First HSA, Inc. of Reading, Pennsylvania will administer the Health Savings Account. The Bush administration has been touting the potential of HSAs to address the nation's health insurance affordability crisis -- especially for small businesses. However, up until now, according to William J. West, M.D., a third-generation physician and president of First HSA, Inc., "no health plan in the country, besides ConnectiCare, has yet to offer HSA's on the HMO platform." "The beauty of the HSA is that it is a collaborative arrangement between the employer and employee to jointly share in the funding of an individual or family heath plan," said Dr. West. "The employer can determine his contribution while the employee has full ownership, choice, and control over the way his or her health savings account dollars are spent," West added. "As a practicing physician, I believe that this type of health savings account, coupled with a strong HMO plan like ConnectiCare's, is the best possible arrangement with the best interest of the patient in mind," said Dr. West. "Merging the cost savings of an HSA with the beneficial features of a managed care plan including disease management, preventive care, and oversight by a patient's primary care physician, is the best possible combination to promote good health among employees while making sound business sense," West explained. Dr. West has been working for several years as an advisor to Congress and the White House to expand eligibility and remove restrictions on medical and health savings accounts and sees the collaboration between First HSA, ConnectiCare and The Chamber Insurance Trust as the optimal arrangement to launch the HSA product in Connecticut. "The emergence of consumer driven healthcare has called for a more dedicated way for employers and employees to collaborate on controlling their health care expenses," said Paul Philpott, Sr. Vice President and Chief Marketing Officer for ConnectiCare. "As health care costs continue to rise nationwide, the HSA, or variations thereof, is likely to meet the needs of both parties and be a very effective way of addressing the challenges facing small business-owners," Philpott added. "The HSA is an exciting next step and viable solution to the rising costs of health care for business owners, while at the same time, enabling them to continue to offer solid insurance coverage to their employees into the future," explained Stephen B. Glick, administrator of the Chamber Insurance Trust. "Small businesses have been anticipating the availability of the HSA and we expect to see strong enrollment in the next several months," Glick added. Health Savings Accounts offer yet another option to the features of its early predecessors including Health Reimbursement Accounts (HRAs) and Flexible Savings Accounts (FSA), which have experienced modest interest and adoption rates by employer groups. The HSA is a structured, dedicated, interest bearing account owned by the employee (funded by the employer, employee or both) which can roll-over indefinitely and is portable even after leaving employment. Pre-tax HSA dollars are also a favorable way for employees to pay for out-of-pocket health care expenses not covered by their base insurance plan. Employers seeking further information on the Chamber Health Savings Account program should contact the Chamber Insurance Trust at 1-800-953-4467 or steveglick@cfr-cit.com. ConnectiCare is an independent Connecticut-based managed care company serving nearly 270,000 members through its affiliates, ConnectiCare, Inc.; ConnectiCare of Massachusetts, Inc.; ConnectiCare of New York, Inc.; and ConnectiCare Insurance Company, Inc. ConnectiCare, Inc. holds an "Excellent" Accreditation rating from the National Committee for Quality Assurance (NCQA) for its commercial employer group plans and a 3-year NCQA patient-oriented accreditation of its asthma, maternity, diabetes, and HeartCare Disease Management Programs. It has also received honors for the highest member satisfaction, customer service, and claims processing ratings of any health plan in Connecticut according to the 2003 Consumer Assessment of Health Plans Survey (CAHPS).
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