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September 20, 2010
Consumer-directed Health Plans See Jump In Enrollment
Studies show that more consumers are choosing consumer-directed health plans (CDHPs). According to the American Association of Preferred Provider Organizations (AAPPO), CDHP enrollment rose to around 23 million people in 2009 compared to 18 million in 2008. That shows an increase of 27 percent.
This growth was led by small employers. According to the president and CEO of AAPPO, Karen Greenrose, “At a time when employers are faced with the difficult choice of limiting benefits or raising health care costs to their employees, they are turning to Health Savings Accounts given the cost savings inherent in these HSA plans.”
While employers seem to prefer CDHPs with health savings accounts, employees are more likely to enroll in CDHPs with health reimbursement arrangements or HRAs. Employer contributions are required with an HRA, but employers may also contribute to their employees' health savings accounts.
To see how much you can save with an HSA, visit www.HSAforAmerica.com. You'll find information on selecting high-deductible health insurance that works with an HSA, how to find an HSA administrator and how to maximize your HSA benefits.
Posted by Wiley Long at September 20, 2010 07:41 AM