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A new year may just bring new opportunities for health savings accounts.HSAs are tax-free portable savings accounts that can be used to pay for medical expenses, including prescription and over-the-counter drugs incurred by individuals, spouses or dependents. These accounts are accompanied by high-deductible, comprehensive insurance policies that cover preventive care and larger medical bills. Unused HSA money rolls over from year-to-year and can then be used to pay for medical care up to the plan’s deductible.A recent America’s Health Insurance Plans overview report on HSAs has revealed that despite a shaky economy, HSAs adoption continues to grow as employees try to find ways to reduce expenses.According to the report, in 2008, 42% of enrollees in small groups chose HSA/HDHP options when offered a choice among those and other types of coverage. This result was the same, regardless of group size: 43% for firms with 10 or fewer workers, 42% for 11 to 25 workers, and 41% for firms with 26 to 50 workers.Even those employers still on the sidelines are reconsidering offering HSAs this year. The report finds that some 26% of all firms not currently offering HSA-eligible HDHPs reported that they were somewhat or very likely to do so in 2009, up from 24% the previous year. Here’s a look at how HSAs have fared over the years:

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Peter Westerman


Credit Union Times

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