Survey Finds HSA Penetration
RIDGEFIELD, NJ -- Analysis by Information Strategies Inc. reveals that Health Savings Accounts are approaching 5% of all health care insurance users on a nationwide basis.
The company's analysts reviewed data from all 50 states, surveys this year of more than 5,000 health care insurance users, reports from 2,900 firms and other information sources in its creation of a detailed national map.
Among the states with the highest penetration, 5-7% are Wisconsin, Texas, Georgia, Florida, Illinois, Ohio, Tennessee and Kentucky.
Amongst the lowest with penetration levels below 2% are New York, New Jersey, Rhode Island, Hawaii and Vermont.
"Clearly, there are states that have welcomed HSAs and others that are still fighting consumer directed healthcare offerings," said JoAnn Laing, ISI president/CEO. "We made our estimates based on research with individuals and firms offering HSAs as well as thousands of respondents to our ongoing surveys, more than 22,000 who have answered questionnaires or participated in focus groups since the inception of HSAs. In some states, the regulatory bodies have made it easier to offer HSAs while in others, such as New Jersey, the insurance commission has not moved as quickly."
Laing added that some insurance providers have shared their data with ISI and others have not. The company's team of experts was able to utilize this overlay with other data to build what it thinks is a comprehensive look at HSA penetration.