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August 23, 2010
Health Savings Accounts: Why Have Ten Million People Enrolled?
As of January 2010, ten million Americans already have a Health Savings Account (HSA) and this form of tax-advantaged saving to pay medical expenses has only been available since 2004. Why are these plans growing so fast?
The number of people enrolling in a Health Savings Account increased by 25 percent since 2009. The fastest growing market for HSA plans was for large-group coverage, followed by small-group coverage. Thirty percent of those with an HSA were in the small group market, and 50 percent were in the large-group market.
Another 20 percent were individuals who paid for their own health insurance coverage. There are now 2.1 million people who have enrolled in HSA plans who pay for their own coverage.
You can learn more about Health Savings Accounts, the high-deductible insurance plans that work with them to keep premiums low, and how to reduce your taxable income with online resources on our website.
Posted by Wiley Long at August 23, 2010 10:03 AM