HEALTH SAVINGS ACCOUNTS: THE FIRST YEAR IN REVIEW

Health Savings Accounts (HSAs) are affordable, comprehensive, and are being adopted by all income levels, according to an eHealthInsurance study which provides a snapshot of HSA plans purchased last year. The study analyzed 82,000 policies purchased through the on-line brokerage from March to August, 2004. Key findings: 40% of HSA-eligible plans were purchased by people with incomes of $50,000 or below; 89% of HSA-eligible plan purchasers paid $200 or less per person per month in premiums; 85% of HSA-eligible plans were comprehensive policies that paid 100% of office visits, surgery, hospitalization, and lab/x-ray services after the plan deductible was met; and 99.4% of HSA-eligible plans included prescription drug benefits. The study provides much more information on purchaser demographics and costs paid for HSA-eligible plans in the individual and family markets, as well as a side-by-side look at HSA-eligible plans and non HSA-eligible plans.