Tuesday, November 15, 2011

HSA's becoming more and more effective

A recent research project (1), with more than 14,000 responses, found Health Savings Accounts are "helping employees make better decisions about their own health care."

Some of the findings include:

+ 56% of individuals found "their HSA qualified plan provides an affordable health care option".

+ 75% of individuals indicated "the ability to personally control their own health is an extremely or very important benefit of HSAs".

+ Individuals are doing things such as " engaging in healthier lifestyle choices - researching preventive care programs - shopping for lower priced prescription drugs - plan health care better throughout the year".

+ 82% of individuals reported "the ability to save tax-free money was extremely or very important in selecting an HSA."

+ 79% indicated "having an HSA is valuable to them."

Employers report HSA plans cost less than standard PPO plans:

+ 77% of them believe "their High Deductible Health Plan with a HSA are key in controlling health care costs."

+ 69% contributed "an average of $1,000 for individual coverage".

(1) The survey, created this fall by two Xerox companies, was commissioned by ACS and conducted by Buck Consultants.

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