HealthAmerica gets statewide contract to serve Penn State: state university hopes to trim part of $55 million health burden. (HealthAmerica Corp.; Pennsylvania State University)

PITTSBURGH -- HealthAmerica has reached an agreement in principle with Penn State University to manage the university's health care benefits programs on a statewide basis, a move that could trim millions of dollars from the cost of providing benefits to staff and faculty.

James Wagner, the university's vice president for business and operations, said Penn State expects to spend $55 million to provide health benefits to its employees in 1992.

"If we can reduce our costs by even a few percentage points," Mr. Wagner said, "the savings will be in the millions of dollars."

Negotiations have been under way between the two parties for several months, and they …