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August 30, 2005
Health Savings Account plans helping insure more people
One of the criticisms of Health Savings Accounts (HSAs) by people who want a one-payer health care system is that only the rich and healthy can benefit from Health Savings Accounts.
Assurant Health, one of the largest marketers of HSA-qualified plans in the country, reports that 75% of its HSA enrollees have an income of $50,000 or less. 27% report a net worth of less than $25,000.
They also report that 40% of their HSA enrollees previously had no coverage. Low rates and favorable tax features make these plans more affordable. So now people that were previously going without coverage are purchasing health insurance. Greater affordability = more people covered, a very good thing.
For what its worth, Assurant also reported that 73% of its HSA clients were families.
Posted by Wiley Long at August 30, 2005 09:24 AM