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IBC Broker Briefs
 

Top Three Reasons to Choose a Personal Choice® HSA-Qualified HDHP

1.  SMOKIN' PREMIUM RATES

Your customers could experience a great reduction in their premium rates (as much as 46% in one case) by offering an HSA. Fourth-quarter HDHP rates were significantly reduced, and a rate increase will not be applied to first-quarter 2008 rates.

2. NO MONTHLY MAINTENANCE FEE FOR BANCORP HSAs

As of September 1, 2007, new and existing Bancorp HSA accounts no longer have a monthly maintenance fee attached to their accounts. Fees are waived regardless of deposit balance or the type of deposit received (electronic or check). Previously, the fee was waived only for the first three months after the account was opened and only if members made deposits electronically or had a balance of more than $2,500.

While all new and existing accounts are free from maintenance fees, standard banking fees still apply (e.g., fees imposed for insufficient funds). 

3. INCREASE INTEREST RATES

For the second time this year, Bancorp has increased interest rates for HSAs. On average, rates are an additional one-quarter percentage point higher. The new interest rates will be as follows for all new and existing account holders:

Balance

Interest rate

APY

$0 - $999

2.25%

2.28%

$1,000 - $2,999

2.55%

2.58%

$3,000 - $4,999

3.25%

3.30%

$5,000 - $9,999

3.75%

3.82%

$10,000 - $14,999

4.25%

4.34%

$15,000 and over

5.25%

5.39%

 

 

 

 

For more information on HSAs and Consumer Driven Health Care Solutions, visit the Consumer Driven Health Care website via ROAM.

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Independence Blue Cross offers products directly, through its subsidiaries Keystone Health Plan East and QCC Insurance Company, and with Highmark Blue Shield. Independent licensees of the Blue Cross and Blue Shield Association.

©2007 Independence Blue Cross is an independent licensee of the Blue Cross and Blue Shield Association.