Anthem Announces Health Savings Account Affiliation

Anthem Announces Health Savings Account Affiliation
Health care benefits and financial services leaders to introduce portable,
tax-friendly consumer-driven product 


INDIANAPOLIS, Aug. 6  /PRNewswire/ -- Consumers will be able to enjoy more
options and flexibility to pay for health care expenses, gain more control over
their health care dollars, reap tax benefits and plan for retirement as a
result of Anthem Blue Cross and Blue Shield's (Anthem) introduction of its
Health Savings Accounts (HSAs).

The new product, Anthem ByDesign HSA, offers an Anthem high-deductible health
plan (HDHP) coupled with a Chase custodian account that allows consumers to use
checks and debit cards to pay for qualified medical expenses out of the HSA. 
The HSAs will be available this year, as the product is introduced throughout
Anthem markets.

Anthem has aligned with JPMorgan Chase Bank, a global leader in the development
of electronic payments solutions, to make it easy and convenient for members to
establish and use an HSA.  HSAs have only recently become available to
consumers with the recent passage of the Medicare Modernization Act of 2003.

"We're very pleased to combine our health benefits expertise with JPMorgan's
strong financial services capabilities in an effort to not only provide
consumers more control over their health care, but to plan for their financial
future," said Mark Boxer, executive vice president and chief information,
strategy and business development officer for Anthem.  "Offering HSAs gives our
members what they have told us they want -- more affordable product options and
the flexibility to choose the benefits that meet their needs."

"By marrying savings vehicles to Anthem's qualified high-deductible health
plans, we can help consumers manage their health care expenses, and plan for
their retirement through the use of HSA tax incentives," said John Prince,
senior vice president, JPMorgan Treasury Services.  "Pre-tax HSA contributions
will reduce consumers' taxable income while allowing them to set aside
additional money for their health expenses.  The money in the accounts can also
be invested, allowing employees to earn more money to help pay for future
health care expenses."

Anthem ByDesign HSA is the latest addition to Anthem's portfolio of
consumer-driven health plans.  The new Anthem ByDesign HSAs broaden the range
of consumer-centric health care plans available from Anthem, giving members
even more affordable product options supported by online tools to help
consumers manage their health care decisions.

HSAs are available to eligible individuals and to all employers. Employers,
employees and their families contribute money to the HSA for an eligible
individual who has a qualified HDHP, up to the level of a deductible or up to
limits set by the Medicare Modernization Act of 2003 -- currently up to $2,600
for individuals and $5,150 for families.  The employee may use the funds in his
or her HSA to pay for qualified medical expenses until the deductible is
reached.  Once the deductible is met, the individual's health expenses are paid
according to his or her health plan.  The tax-advantaged accounts also permit
unused funds to be "carried over" from year to year even if the employee
changes employers.  Any interest gained from the HSA belongs to the individual.

About Anthem

Anthem's mission is to improve the health of the people it serves.  The Anthem
Blue Cross and Blue Shield companies provide health care benefits to more than
12.6 million people.  They are subsidiaries of Anthem, Inc.; all are
independent licensees of the Blue Cross and Blue Shield Association.  Anthem is
the Blue Cross and Blue Shield licensee for Indiana, Kentucky, Ohio,
Connecticut, New Hampshire, Colorado, Nevada, Maine and Virginia, excluding the
Northern Virginia suburbs of Washington, D.C.  More information about Anthem is
available at http://www.anthem.com/ .

About JPMorgan

JPMorgan Treasury Services is a unit of JPMorgan Chase Bank, a subsidiary of
JPMorgan Chase & Co.  JPMorgan Chase & Co. (NYSE:JPM) is a leading global
financial services firm with assets of $1.1 trillion and operations in more
than 50 countries.  The firm is a leader in investment banking, financial
services for consumers and businesses, financial transaction processing, asset
and wealth management, and private equity.  A component of the Dow Jones
Industrial Average, JPMorgan Chase & Co. has its corporate headquarters in New
York and its U.S. retail financial services and commercial banking headquarters
in Chicago.  Under the JPMorgan, Chase and Bank One brands, the firm serves
millions of consumers in the United States and many of the world's most
prominent corporate, institutional and government clients.  Information about
the firm is available on the Internet at http://www.jpmorganchase.com/ . 

DATASOURCE: Anthem



CONTACT:  Heath Weber of Anthem, [phone],

 ; or John Johmann of JPMorgan, [phone],

 



Web site:  http://www.anthem.com/

http://www.jpmorganchase.com/ 

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