HSA Enrollment Increases to 6.1 Million, a 35% Increase in Annual Growth (MyHealthGuide Newsletter)
- Jerry Geisel, Business Insurance, 4/30/08, Article
- American Health Insurance Plans (AHIP), 4/30/08, Study and Slides
- Roy Ramthun, HSA Consulting Services, LLC, 202-747-4467, roy@hsaconsultingservices.com and www.hsaconsultingservices.com
Enrollment in health savings accounts linked to high-deductible health insurance plans continues to surge with 6.1 million people covered by HSAs as of Jan. 1, a 35% increase over Jan. 1, 2007, according to a survey released on 4/30/08.
HSA enrollment shot up across all markets, according to the America’s Health Insurance Plans survey, with the biggest percentage increase in the small employer market. Employers with 50 or fewer employees had 1.8 million people in HSAs as of Jan. 1, a roughly 70% increase over the prior year.
Enrollment also increased sharply in other markets. In the large employer market—employers with at least 51 employees—HSA enrollment increased to 2.8 million people, up about 35%, while enrollment in the individual market climbed to 1.5 million, also up about 35% increase.
For example, as of Jan. 1, the average annual premium for family coverage provided through the best-selling HSA-linked high-deductible plan in the large group market was $8,241. That compares to an average premium of $12,106 for employer-sponsored family coverage last year, according to a Kaiser Family Foundation survey.
Copies of the AHIP survey are available at:
- Survey: www.ahipresearch.org/pdfs/2008_HSA_Census.pdf
- Slides: www.ahipresearch.org/pdfs/AHIP_HSA08_PPTslides.pdf
- The majority of the enrollment continues to come from the employer-based group market – 4.6 million Americans with HSA coverage had employer-based coverage.
- 30% of individuals covered by an HSA plan were in the small group market,
- 45% were in the large-group market, and the remaining
- 25% were in the individual market.
- Small businesses are strongly embracing HSAs – HSA enrollment in the small group market increased 70% over the past year. Over 1.8 million Americans working for small businesses now have coverage through HSAs.
About Roy Ramthun and HSA Consulting Services
Roy Ramthun is President of HSA Consulting Services, a health care consulting practice specializing in Health Savings Accounts and consumer-driven health care issues. Prior to forming his consulting practice, Mr. Ramthun was the Special Assistant to the President for Economic Policy at the White House. Contact Roy at 202-747-4467, roy@hsaconsultingservices.com and visit www.hsaconsultingservices.com.
About AHIP America’s Health Insurance Plans (AHIP) is the national association representing nearly 1,300 member companies providing health insurance coverage to more than 200 million Americans. Our member companies offer medical expense insurance, long-term care insurance, disability income insurance, dental insurance, supplemental insurance, stop-loss insurance and reinsurance to consumers, employers, and public purchasers. Visit www.AHIP.org.
