HSA Enrollment Swells To 4.5 Million
The number of Americans with high-deductible health insurance plans (HDHPs) linked to tax-advantaged health savings accounts (HSAs) rose 43% to 4.5 million between January 2006 and January 2007, according to a census of 87 U.S. health insurance carriers conducted by industry association America’s Health Insurance Plans (AHIP).
The census looked at rates of adoption of HSA/HDHP products between January 2006 and January 2007, but it did not include data on coverage associated with health reimbursement arrangements (HRAs).
In the individual health insurance market, enrollment in HSA/HDHPs rose from 855,000 to 1.1 million over the period studied. The census found that HSA/HDHP products accounted for 25% of all new purchases of individual health insurance policies between 2006 and 2007. Of the new enrollees in HSA/HDHPs, 27% had been previously uninsured, and 46% were age 40 or older. The average annual deductible for the HSA/HDHP policies sold on the individual market over the period was $2,668 for single coverage and $5,264 for family coverage, while the average annual out-of-pocket limit was $3,449 for singles and $6,881 for families.
Over the same period, HSA/HDHP enrollment in the group insurance market rose to almost 3.4 million, from 1.4 million the previous year. From January 2006 to January 2007, HSA/HDHP products accounted for 17% of all new plans purchased in the small group market and 8% of all new plans sold in the large group market. The average annual deductible for HSA/HDHPs sold in the small group market was $2,282 for single coverage and $4,541 for family coverage, while the average out-of-pocket limit for HSA/HDHPs in the group market was $3,404 for singles and $6,611 for families.
As part of the census, AHIP researchers asked 69 insurance carriers (representing an HSA/HDHP enrollment of 3.6 million) about the preventive benefits coverage and disease management services offered as part of their HSA-eligible plans. Of these respondents, 63 reported offering HSA-qualified plans that cover preventive care before the deductible is met. In addition, 65 indicated they offer disease management benefits for HSA/HDHP enrollees, and 11 said they cover some types of prescription drugs as a preventive benefit not subject to the deductible.
When all the companies offering HSA/HDHP products were asked to identify the types of consumer decision support tools they provide, 88% indicated they offer health care cost information, 86% provide enrollees with hospital-specific quality data, and 50% provide physician-specific quality data.
