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UnitedHealth buys Definity.
Byline: Alex Lash
Grabbing a significant share of a new type of health insurance business, UnitedHealth Group announced Monday, Nov. 29, it would buy Definity Health Corp. for $300 million in stock.
Privately held Definity is a leading provider of health savings accounts. These interest-bearing accounts offer tax breaks to encourage employees to save for their own healthcare. The accounts received a boost from Congress in the Medicare bill of 2003, a measure more famous for bringing prescription drug benefits to senior citizens. But the bill also authorized HSAs as a tax-free way for individuals to save for medical expenses.
Definity offers …
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