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September 05, 2005
Lower Rate Increases with Health Savings Accounts (II)
Another study has been released showing Health Savings Account (HSA) plans to have much lower rate increases than traditional health insurance plans.
The latest study, released by United Benefit Advisors (UBA)(http://benefits.com), one of the nation's largest employee benefits advisory organizations, surveyed more than 12,000 employer-sponsored health plans. The survey found that average premiums increased 9.6% for all plans, but only 3.4% for Consumer Driven Plans.
The fact that consumer-driven plans, such as HSAs, rose in price at a rate only 1/3 of traditional plans, confirms what proponents of HSAs have been saying all along. When the consumer is in charge of his healthcare decisions, he’ll make smarter choices on how he spends his money.
So in addition to lower initial premiums, and tax deductions, it appears that HSAs offer consumers lower ongoing health costs by having dramatically lower rate increases.
Find more Health Savings Account inforamation at HSA for America
Posted by Wiley Long at September 5, 2005 02:39 PM