Smart Benefits: Popularity of HSAs Continues to Rise
Monday, August 11, 2014
A recent survey by America’s Health Insurance Plans (AHIP) reveals that Health Savings Accounts (HSAs) experienced double-digit growth over last year. Enrollment in HSA-eligible insurance plans now stands at nearly 17.4 million, up about 12 percent since 2013. On average, enrollment in HAS plans has grown 15 percent annually since 2011.
Key findings from this year’s annual census of people covered by HSAs/High Deductible Health Plans (HDHPs) conducted by AHIP include:
- Most enrollment gains were in the large group market, which now represents 74 percent of all enrollment in HSAs.
- The average monthly premium for single coverage was $371 and $835 for families
- About half (52 percent) of all HSA/HDHP enrollees in the individual market (including dependents covered under family plans) were age 40 or over; 48 percent were under age 40.
- Fifty percent of people covered by an HSA/HDHP as of January 2014 were male and 50 percent were female
- Those states with the highest levels of enrollment were: Illinois (1,054,916), Texas (1,042,642), Ohio (802,511), Pennsylvania (691,750) and Michigan (690,932).
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Congress first authorized HSA/HDHPs in 2004.
Amy Gallagher has over 21 years of healthcare industry experience guiding employers and employees. As Vice President at Cornerstone Group, she advises large employers on all aspects of healthcare reform, benefit solutions, cost-containment strategies and results-driven wellness programs. Amy speaks regularly on a variety of healthcare-related topics, and is often quoted by national publications on the subject matter. Locally, Amy is a member of SHRM-RI, the Rhode Island Business Group on Health, and the Rhode Island Business Healthcare Advisory Council.
Related Slideshow: New England’s Healthiest States 2013
The United Health Foundation recently released its 2013 annual reoprt: America's Health Rankings, which provides a comparative state by state analysis of several health measures to provide a comprehensive perspective of our nation's health issues. See how the New England states rank in the slides below.
Definitions
All Outcomes Rank: Outcomes represent what has already occurred, either through death, disease or missed days due to illness. In America's Health Rankings, outcomes include prevalence of diabetes, number of poor mental or physical health days in last 30 days, health disparity, infant mortality rate, cardiovascular death rate, cancer death rate and premature death. Outcomes account for 25% of the final ranking.
Determinants Rank: Determinants represent those actions that can affect the future health of the population. For clarity, determinants are divided into four groups: Behaviors, Community and Environment, Public and Health Policies, and Clinical Care. These four groups of measures influence the health outcomes of the population in a state, and improving these inputs will improve outcomes over time. Most measures are actually a combination of activities in all four groups.
Diabetes Rank: Based on percent of adults who responded yes to the question "Have you ever been told by a doctor that you have diabetes?" Does not include pre-diabetes or diabetes during pregnancy.
Smoking Rank: Based on percentage of adults who are current smokers (self-report smoking at least 100 cigarettes in their lifetime and currently smoke).
Obesity Rank: Based on percentage of adults who are obese, with a body mass index (BMI) of 30.0 or higher.
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