HSAs Gain Popularity
WASHINGTON -- HSAs are here to stay.
A recent census release by America's Health Insurance Plans finds that more than 6.1 million Americans are covered by HSA-eligible insurance plans, representing a 35% jump since 2007.
"Employers and individuals across the country and across the age spectrum are choosing HSA plans, which are now an important part of the portfolio of coverage options offered by health plans," said AHIP President/CEO Karen Ignagni.
The census also finds that since January 2007 there has been an increase of approximately 1.6 million Americans enrolled in an HSA plan. In addition, 45% of individuals covered by an HSA plan were in the large-group market, 30% of individuals covered were in the small group market and the remaining 25% were in the individual market. HSA products accounted for 31% of new coverage issued in the small-group market and individual market consumers selected HSA products for 27% of their new purchases of health insurance. HSA plan enrollment as a percentage of individuals with private coverage is estimated to be the highest in Minnesota (9.2%), Louisiana (9%), Washington, D.C. (8.7%), Vermont (7.5%) and Colorado (7.1%)