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April 11, 2005
The Guardian and Destiny Health Offer Fully Integrated HSA
Enhanced savings vehicle now even easier to use
NEW YORK, N.Y., April 11, 2005— The Guardian Life Insurance Company of America (Guardian) and Destiny Health are now offering an enhanced Health Savings Account (HSA) option in conjunction with The Destiny Health PlanTM, which empowers members, is fully integrated for all out of pocket costs, and offers greater flexibility and choice. This innovative consumer-driven plan is currently available through the Guardian Destiny alliance to employers in Illinois, Virginia, Maryland and Washington D.C.
"The Destiny Health Plan offers a completely integrated HSA solution to employers and individuals," explained Destiny Health CEO Scott Spiker. "People seeking an HSA may not be aware that many solutions are really two different entities — a high-deductible insurance plan and an HSA offered through a separate institution — leading to the extra burden of coordinating HSA withdrawals and reimbursements. The Destiny Health HSA is directly connected to the claims system so there isn't any extra paperwork or hassle."
In addition to the ease of use, the combination of Destiny Health's years of experience with the consumer-driven model and Guardian's network create a robust HSA solution designed to empower members to take control of their healthcare dollars.
"People want and need to build equity in their health insurance plan. Our product enables them to do just that by providing information and incentives to make healthier, more cost-effective choices, coupled with the roll-over component of the HSA," said Rick Viesta, Vice President, Group Medical, Guardian.
The Destiny Health Plan HSA features easy access to account balances and health information, plus seamless integration for claims handling so that employees don't risk overpaying or have the hassle of extensive record keeping. In addition, the level of support and incentives is unmatched:
 | Wellness incentives. The Destiny Health Plan Vitality program — a health and wellness program that rewards members for taking care of themselves. Completely integrated into the HSA or HRA (Health Reimbursement Account) solution, members are incented to take good care of their health. The Guardian/Destiny Health solution goes beyond simply offering insurance and protection and seamless administration but encourages members to address the real issue of optimum personal health. |
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| Flexibility. The Destiny Health Plan integrated solution can be structured as an HSA or HRA or both depending on the needs of your group. |
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| Tools and resources to help make important decisions about how those HSA dollars are spent. Members now have ownership in their plan, especially with the HSA, but that doesn't mean they are instant experts on how to spend the money. |
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According to Viesta, HSAs are powerful tools when used correctly, but taken alone they are simply a tax-sheltered account. "The true potential of the HSA product can only be realized by combining an HSA with comprehensive insurance protection, incentives to live healthier lifestyles and the power of consumerism. The result will be smarter healthcare spending decisions and ultimately more affordable health insurance premiums," he said.
As a pioneer provider of consumer-driven health care plans featuring HSA-like accounts, Destiny Health and its parent company Discovery Health have collected data from years of combined experience that brings the issue into focus.
Spiker noted, for example, that while on average, new Destiny Health Plan members fill 70% of their prescriptions with high-price formulary drugs, by the end of their second year in the plan, they are opting for generic drugs 50% of the time.
"But these smarter shopping habits and behavior patterns do not come about by magic," Spiker said. "They are the result of education routinely provided to our members through workshops, a dedicated website, 24-hour nurse advice line, detailed claim and fund statements, and other real-time information."
And for employers the result is often significant cost savings. Spiker notes that Discovery Health has been selling HSA-like plans internationally for 12 years and that on average, its premiums from 1996 through 2002 rose 30 percent less than the industry average.
Launched in January 2004, HSAs were created as part of the Medicare Prescription Drug, Improvement and Modernization Act of November 2003. Employers and employees can contribute pre-tax dollars into the accounts (up to $2,600 for an individual and $5,150 for a family) and the money can be used to pay for any qualified medical expense, including over-the-counter medicines. Interest on HSAs is tax-free and unused funds roll over from year to year. Most important, the accounts are owned by the employee and move with that individual should he or she change jobs or retire.
About Guardian
Founded in 1860, The Guardian Life Insurance Company of America, New York, NY (Guardian) is the fourth largest mutual life insurance company in the United States. As of December 31, 2003, Guardian and its subsidiaries had $37.2 billion in assets. With more than 5,000 employees, over 2,800 financial representatives and nearly 100 agencies nationwide, Guardian and its subsidiaries protect individuals, businesses and their employees with life, disability, health and dental insurance products, and offer 401(k), financial products and trust services. More information on Guardian can be obtained at: www.guardianlife.com.
About Destiny Health
Destiny Health's innovative consumer-driven health plan is designed to make people healthier and enhance and protect their lives, by balancing comprehensive health insurance coverage with incentives that motivate active participation in healthcare and rewards member behavior change necessary for a healthier lifestyle. For employers, Destiny Health's Comprehensive Consumer-Driven Healthcare TM model is proven to control rising healthcare costs through lower premium increases. The Destiny Health Plan is a health insurance solution for those who seek greater value, superior choice, outstanding service and comprehensive coverage. With more than 50,000 members enrolled in the U.S., this consumer-focused strategy is modeled after Destiny Health's parent company, Discovery, an international life and health insurance company based in South Africa that has successfully enrolled over 1.6 million members in its medical plan since 1992. Combined, Destiny Health and Discovery are the largest providers of consumer-driven healthcare in the world. For more information visit www.destinyhealth.com. The Destiny Health Plan is currently marketed by The Guardian Life Insurance Company of America in Illinois, Virginia, Washington, D.C. and Maryland. It is also available in Massachusetts through a partnership with Tufts Health Plans and in Wisconsin through affiliated insurance brokers.
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