HSAs MORE POPULAR, NEW STUDY SAYS
Volume 29, Issue 516 May 27, 2008
Matthew Gever
The number of Americans who receive health coverage from health savings accounts (HSAs) linked to high-deductible insurance plans has nearly doubled over the past two years, to 6.1 million Americans, according to a new report from America’s Health Insurance Plans. HSAs are intended to give consumers more control over their own health-care spending by allowing consumers to use tax-favored savings combined with a high-deductible health plan (HDHP) to pay for medical expenses.
The highest levels of growth were seen in the small group market. States with the highest percentage of HSA enrollees among their under 65 populations with private health insurance were Minnesota (9.2 percent), Louisiana (9.0 percent), District of Columbia (8.7 percent), Vermont (7.5 percent), Colorado (7.1 percent), Nebraska (6.4 percent), Connecticut (5.8 percent), Wisconsin (5.6 percent), Indiana (5.1 percent) and Iowa (5.0 percent).
States with the highest levels of HSA/HDHP enrollment were California (639,000), Florida (397,000), Illinois (384,000), Texas (358,000), Ohio (353,000), and Minnesota (325,000).
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