| Copyright: | Copyright (C) 2007, U.S. Newswire | | Source: | Comtex Business | | Wordcount: | 1127 |
WASHINGTON, Apr 2, 2007 (U.S. Newswire via COMTEX) --The following was issued today by the White House Press Office:
BACKGROUND
The President will participate in a meeting on Health Savings Accounts in the Roosevelt Room of The White House.
Today, America's Health Insurance Plans (AHIP) released a report showing the number of individuals covered by Health Savings Accounts has increased by 43 percent over the last year, from about 3.2 million in January 2006 to about 4.5 million in January 2007. In addition, according to the report, twenty- seven percent of the new enrollees in the individual market were previously uninsured.
BIOGRAPHIES OF PARTICIPANTS
Secretary Mike Leavitt, Department of Health and Human Services
Lucia Ward Alexander, Product Manager, CareFirst, Blue Cross Blue Shield (Pikesville, Maryland)
Lucia Alexander, age 55, has worked for CareFirst Blue Cross Blue Shield (BCBS) (an affiliate of BCBS that services the DC Metro area) for 22 years. She, her husband, and her 19-year-old son all switched to an HSA plan in 2005. She saw an immediate cost savings for her family. Her deductible is $2,400, and her employer contributes $1,400 into her account while she contributes $1,000. Lucia's contribution to her premium is $164 a month and has remained stable since she switched to an HSA.
John Fearing, Co-Owner, Moxie Hair Salon (St. Paul, Minnesota)
John Fearing, age 33, is the co-owner of two hair salons in St. Paul and Minneapolis, Minnesota. He serves as the Chief Financial Officer and also runs the HSAs for the company. He started his company in 1999 and now has 24 employees with an average age of 21 years. John was personally without insurance for four years and was also unable to offer insurance to his employees because of the high cost of coverage. The company chose an HSA plan with Blue Cross Blue Shield in the spring of 2006 with a $1,900 deductible. The company pays 50 percent of the $164 monthly premium. About half of Mr. Fearing's employees have taken up the coverage, and about eight are contributing to their accounts on their own. Employees who were previously uninsured now have access to affordable health insurance, and Mr. Fearing says the HSAs have increased retention with his younger staff.
Raul Gonzalez, Director of Administration, Passman & Jones (Dallas, Texas)
Raul Gonzalez, age 44, is the Director of Administration at Passman & Jones. His law firm has 32 employees and began investigating HSAs in 2005 after the premiums on their traditional PPO plan more than doubled. The firm was paying more in healthcare for their employees than it was paying for rent; healthcare costs were second only to payroll. Changing to an Aetna HSA has helped the company save money and has had a positive impact in the lives of the employees as well. Having an HSA has made the employees more health- conscious. They are becoming more proactive and living healthier lifestyles that have resulted in lower cholesterol and weight loss. Mr. Gonzalez was diagnosed with prostate cancer last year, and despite having surgery and multiple tests, his HSA plan saved him money. Because of his positive experience with HSAs, Raul Gonzalez has advocated on behalf of the plans to other companies in his community.
Karen Ignagni, President and CEO, America's Health Insurance Plans (AHIP) (Washington, D.C.)
Karen Ignagni, age 53, is the voice of health insurance plans in her role as President and CEO of AHIP, which represents members that provide health care, long-term care, dental, and disability benefits for more than 200 million Americans. AHIP was formed in late 2003 as a result of a merger between the American Association of Health Plans (AAHP) and Health Insurance Association of America (HIAA). Previously, she was the Director of the AFL- CIO's Department of Employee Benefits.
Mark Inzetta, Vice President, Assistant General Counsel, and Chief Corporate Compliance Officer, Wendy's Incorporated (Lancaster, Ohio)
Mark Inzetta, age 50, has worked for Wendy's Inc., for over 20 years. He and his six children, three of whom are in college, are covered under his insurance plan, including his HSA (his wife receives insurance through her employer and is not covered under his plan). Before switching to an HSA, Mark saw his premiums rise 15 percent year after year under his traditional health plan. Now, with a United Healthcare HSA, his premiums have been constant at $190 a month. Mark contributes the maximum amount into his account by making personal contributions of $902 per year, which is matched by Wendy's contribution of $1,298. Wendy's pays, on average, 70 percent of the premium on employee policies and contributes to the HSAs of their employees regardless of the employee's ability to do so on his own. With his HSA, Mark believes he has an incentive to stay healthy and to compare prices and is much better off because his premiums are no longer increasing rapidly.
Linda "Lynn" Rew, Owner, Mid-Lakes Construction; Real Estate Agent, Real Estate One (Commerce, Michigan)
Linda Rew, age 58, owns a construction business and also sells real estate. She switched to an Assurant HSA about a year and a half ago after having her premiums increase from $189 to $600 a month over the last few years. She was unable to afford the rising cost and went without health insurance for six months before acquiring an HSA. Ms. Rew now pays $237 per month with a deductible of $5,100. She likes the cost savings, flexibility, and, most importantly, peace of mind of having health insurance again.
Heidi Searle, Stylist, Moxie Hair Salon (Minneapolis, Minnesota)
Heidi Searle, age 23, has been a stylist at Moxie Hair Salon for the past two years. Working for the Salon gave her the first opportunity to have health insurance in five years. When she turned 18, she was discontinued on her parents' plan and had a major accident while uninsured. She has a Blue Cross Blue Shield HSA with a deductible of $1,900. Heidi pays $82 a month towards the premium and tries to contribute between $20 and $40 a month on her own to the account.
Mark Valentine, Co-Owner, Thermal Recovery Systems (Decatur, Georgia)
Mark Valentine, age 59, is the co-owner of Thermal Recovery Systems, a company that represents manufacturers who make air conditioning equipment. The company has 20 employees and has been in business for 32 years. Previously, Thermal Recovery Systems had a traditional group health plan, but it could no longer afford the rising premiums. Now most of the employees have Assurant HSAs, and their monthly premiums have dropped by half so the company is able to contribute $2,500 to the accounts to cover the $2,500 deductible ($5,000 deductible for families). Both the employer and the employees are saving money.
SOURCE White House Press Office
White House Press Office, +1-202-456-258
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