Business
Cigna expands HRA business
NEWS IN BRIEF — Posted Aug. 14, 2006
Cigna said it will expand the Choice Fund Health Reimbursement Arrangement plans to businesses with 51 to 200 employees in markets where the fund had previously been available to employers with more than 200 employees.
Dennis Wilson, president of Cigna's Healthcare small business segment, said extending the program to Georgia, Illinois, Indiana, Maryland, Michigan, Missouri, Ohio and Washington, D.C., gives small businesses the same access to Cigna programs as large businesses. Wilson said the program helps employers manage costs by helping employees be more engaged in their health care decisions.
With an HRA, as opposed to a health savings account, only the employer sets aside funds for the account portion of the plan. If an employee leaves, any unused dollars stay with the employer.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2006/08/14/bibf0814.htm.
