Health Savings Account Blog

The Blues plan to open a bank to serve customers with HSAs and other consumer-directed health plans. This bank will "make managing health care easier than managing checking accounts," Serota says.

The American Bankers Association and the American Bankers Insurance Association just launched the HSA Council, which will address technological and regulatory issues facing banks in the Health Savings Account market.

Business groups plan to lobby Congress for additional tax breaks for HSAs, including giving small businesses a tax credit for the first $500 employer contribution to a family policy and the first $200 contribution to an individual policy.

Refundable tax credits for the uninsured and a tax deduction for high-deductible health insurance premiums also would make HSAs more affordable, according to the U.S. Chamber of Commerce.

Another bill aims to make HSAs more attractive to employees at larger businesses, which are accustomed to richer benefits than employees of small businesses.

The legislation, introduced by Rep. Eric Cantor, R-Va., would allow employers to coordinate HSAs with flexible spending accounts and health reimbursement arrangements. It also would increase contribution limits to HSAs.

Cantor says HSAs "are the cornerstone of health care reform" because they "put consumers in the driver's seat."

Current HSA enrollees are more cost-conscious, but they also are more likely to avoid or delay needed care, according to a recent survey conducted by the Employee Benefit Research Institute and the Commonwealth Fund. HSA enrollees also are less satisfied with their health plan than people with traditional insurance, the survey found.