April 2, 2002

WASHINGTON, D.C.--- Predicting a possible loss of business, HMO premium increases have encouraged yet another large insurance company to offer Archer Medical Savings Accounts. Blue Cross and Blue Shield of Minnesota recently joined CIGNA HealthCare, Aetna and WellPoint Health Networks in providing this low cost alternative to its subscribers.

The new product, called MSA Blue, offers Archer MSAs to employers with 50 or less employees, encompassing half the employers in Minnesota.

"The launch of the MSA Blue product is just another example of the vitality of MSAs in the marketplace," said Coalition for Patient Choice Chairwoman Karen Kerrigan. "Employers are looking for a low-cost but comprehensive alternative to your standard HMO, and Archer MSAs are that alternative. Since Archer MSAs eliminate the third-party payer, they help control costs because doctors, hospitals and insurers are competing for the services of each patient, the patient is the big winner," stated Kerrigan.

Under a current federal program set to expire at the end of this year, Archer MSAs are only available to the self-employed and employers with 50 or less employees. The accounts are made up of pre-tax contributions from the individual or employer, which are then used to cover health expenses. Accounts can be rolled over from year to year and essentially provide a way for individuals to pay for their current health care costs and save for their future health care expenses.

The Coalition for Patient Choice encourages Congress to follow in the footsteps of Blue Cross and Blue Shield and offer Archer MSAs to all Americans by expanding them and making them a permanent health insurance alternative that is available to all Americans.

To speak with a representative from the Coalition for Patient Choice, please contact Katie Wright at 703.683.5004, ext. 132.