Account-based health insurance plans have been growing more popular in recent years among employers and workers seeking to lower their expenses.
The number of Americans who have a health insurance plan compatible with a health savings account (HSA) has risen more than 18 percent to above 13.5 million people, according to America's Health Insurance Plans (AHIP). The trade association recently released census data showing that enrollment in HSA-compatible plans has tripled over the past five years, up from 4.5 million participants in January 2007.
Not all of these individuals necessarily have HSAs, but the option exists for them. High-deductible health plans paired with HSAs are becoming a staple in employee benefit plan administration and design despite the fact that they were only authorized in 2004.
"Millions of individuals, families and employers have chosen an HSA plan for the affordable, high-quality coverage these plans provide," said Karen Ignagni, President and CEO of AHIP. "HSA plans are providing patients with information and resources to make more informed healthcare decisions."
Common plan characteristics
Researchers found that HSA plans typically offer decision-support tools designed to help their enrollees make informed healthcare choices. In addition to allowing them to view balances and HSA information, more than 90 percent of companies examined offered health education information, hospital-specific quality data, specific information on physicians and personal health record access. More than 8 out of 110 provided physician-specific quality data and information on provider costs.
Interest in HSAs is being driven primarily by large-group plans, but small-group coverage also increased. The HSA market for large-group coverage grew 26 percent. Individual plan interest is less of a factor in account-based health plans, according to AHIP.
