Dive Brief:
- Nearly 17.4 million Americans were covered by Health Savings Account (HSA)-eligible insurance plans as of January, up from 15.5 million a year earlier, according to a census survey released July 9 by America’s Health Insurance Plans. Enrollment in HSAs has climbed 15% annually, on average, since 2011, AHIP said.
- Nationally, the average monthly premium for HSAs was $371 for single coverage and $835 for families. AHIP's 2014 survey also shows the large group market continues to lead in enrollment gains, now representing 74% of enrollment in HSA/high-deductible health plans (HDHPs).
- AHIP, in partnership with the American Bankers Association’s HSA Council, also released a survey July 10 on HSA financial activity. Overall, more than half, or 52%, of account holders spent more than 80% of their HSA funds for healthcare expenses during 2012, it found.
Dive Insight:
Since Congress authorized HSA plans in 2004, AHIP has tracked the number of people covered by health savings accounts/high-deductible health plans.
Responding to the latest survey findings, AHIP President and CEO Karen Ignagi touted HSA plans as increasingly becoming an important coverage option for consumers and employers. And a banking association official said its study with AHIP "confirms that HSAs are being used as they were designed: to pay for routine healthcare needs and to save towards future medical expenses”—and have the advantage of offering consumers greater choice and control over their healthcare.
But this news of rising enrollment in these plans may worry hospitals, since HSAs often are paired with high-deductible plans—and these plans’ high out-of-pocket costs for consumers may result in more uncompensated care. Interestingly, the AHIP/ABA survey found that fully half of HSAs had $499 or less at the end of 2012; of that, 19% had no funds available. Only 12% had at least $5000 left.