Cigna HealthCare announced Tuesday that it will add six portfolios from three mutual fund families to its health savings account platform.
Starting next January, participants in Cigna Choice Fund HSA will have the option to invest their health savings account balances in portfolios from JPMorgan Funds, T. Rowe Price, and Royce Funds.
The Cigna Choice Fund HSA is an integrated benefits plan that combines a tax-advantaged savings account with a high-deductible health plan and financial management features, such as a debit card and checkbook - and now mutual funds.
Cigna said it added the mutual fund investment option because people expressed interest in investment options linked to a savings account for health care. Research done by the company last year found that 65% of those asked saw appeal in being able to invest balances in the accounts.
Participants will be able to invest in the JPMorgan Prime Money Market, Investor Balanced, Ultra Short Term Bond, and Equity Index funds, as well as the Royce Premier Fund and T. Rowe Price International Growth and Income Fund.
