Health Savings Account Enrollment Reaches Ten Million

Main Category: Health Insurance / Medical Insurance
Article Date: 20 May 2010 - 6:00 PDT

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Ten million Americans are covered by Health Savings Account (HSA)-eligible insurance plans, an increase of 25 percent since last year, a new census released today by America's Health Insurance Plans (AHIP) finds. Health Savings Accounts were authorized starting in January 2004. Since then, AHIP has conducted a periodic census of health plans participating in the HSA/high-deductible health plan (HDHP) market.

"HSA plans continue to be an important coverage option for families and small businesses across the country," said Karen Ignagni, President and CEO of AHIP.

Key findings from the census include:

- As of January 2010, approximately 10 million people were covered by HSA/HDHP products, an increase of 25 percent since last year.

- Between January 2009 and January 2010, the fastest growing market for HSA/HDHP products was large-group coverage, which rose by 33 percent, followed by small-group coverage, which grew by 22 percent.

- Thirty percent of individuals covered by an HSA plan were in the small group market, 50 percent of individuals covered by an HSA plan were in the large-group market, and the remaining 20 percent were in the individual market.

- In the individual market, 2.1 million covered lives are enrolled in HSA plans, while nearly 3 million lives were enrolled in HSA/HDHP coverage in the small-group market and almost 5 million lives were covered in the large-group market.

- States with the highest levels of HSA/HDHP enrollment were California (1,018,000), Ohio (651,000), Florida (639,000), Texas (637,000), Illinois (575,000), and Minnesota (361,000).

For more information about the 2010 HSA/HDHP census, please visit http://www.AHIPResearch.org.

Source
America's Health Insurance Plans

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