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    February-2013
 
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Small Businesses Embracing HSAs as Money Savings Healthcare Insurance Offering

Even very small companies are seeing employees embracing Health Savings Accounts (HSAs)

More than 13.5 million Americans are covered by HSAs compatible high deductible health plans (HDHPs). 

The Census includes participation from almost all health insurers in the HSA/HDHP market;

Key findings from the 2012 Census include the following:

  • Total enrollment has grown over 2 million covered lives from the 2011 Census.  Enrollment rose to 2.5 million in the individual market, 3 million in the small group market, and 7.9 million in the large group market.
  • States with the highest numbers of HSA enrollees are California, Texas, Illinois, Ohio, and Florida.  States with the highest percentage of HSA enrollees are Vermont, Minnesota, Montana, Utah, Connecticut, and Indiana.
  • Almost all individuals covered by HSA/HDPs are in Preferred Provider Organizations, giving those consumers access to provider network discounts.
  • Monthly average premiums for all markets range from a high of $470 for single coverage in Tennessee and $1,201 for family coverage in New Hampshire, to lows of $206 for single coverage in South Dakota and $423 for family coverage in Iowa.

According to Ray Ramthun, a leading expert in HSAs says “the census demonstrates the strength and desirability of HSAs.”

The strong growth comes at a time when they are under some pressure from the Obama administration to curtail their growth.


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