The growth of Health Savings Accounts (HSAs) continues with large corporations driving the new enrollees.
According to AHIP, which represents large healthcare insurance provider, this trend is accelerating as more and more employers are joining individuals in choosing this form of healthcare insurance coupled with retirement savings.
AHI released the latest update of its annual census of the market as the nation wrestles with changes forced by the healthcare reform act.
As of January 2011, AHIP says more than 11.4 million Americans were covered by HSA-eligible high deductible health plans (HDHPs), an increase of more than 14 percent from the prior year.
Other key findings of the census include the following:
- Between January 2010 and January 2011, the fastest growing market for HSA plans was for large-group coverage, which rose by 26 percent, followed by individual market coverage, which grew by 15 percent.
- In the individual market, 2.4 million covered lives are enrolled in HSA plans, while approximately 2.8 million lives were enrolled in HSA/HDHP coverage in the small-group market and over 6.3 million lives were covered in the large-group market.Forty-nine (49) percent of all HAS/HDHP enrollees in the individual market (including dependents) were age 40 or over; 51 percent were under age 40.
- States with the highest levels of HSA/HDHP enrollment were California (1,073,319 enrollees), Texas (844,832 enrollees), Ohio (728,868 enrollees), Illinois (690,509 enrollees), Florida (656,243 enrollees) and Minnesota (507,307 enrollees).
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