Health savings accounts and health reimbursement agreements, collectively known as consumer-driven health plans, are growing more common.
A recent study by the Employee Benefit Research Institute (EBI) found that 8.4 million such accounts existed in 2011, up from only 1.3 million in 2006. The amount of money distributed throughout those accounts also grew from $873.4 million to $12.4 billion, as more employers view HRAs and HSAs as a way to maintain employee benefits while reducing coverage costs.
While the number of HRA and HSA participants whose employers contribute to their accounts has remained steady at about two-thirds, EBRI reports that the level of employer contributions has dropped for some. About 44 percent of employees contributed at least $1,500 in 2011, up from only 21 percent in 2006.
The number of employers contributing $1,000 or more has decreased by 13 percent since 2008 for those with employee-only coverage, although the percentage remained steady for people with family plans. Report author Paul Fronstin suggests the changes are due to the weak economy, noting that those with higher incomes have been increasing their contributions while the trend was less pronounced among lower-income Americans.
