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September 09, 2011
Health Savings Accounts Meet Health Care Reform
America's Health Insurance Plans (AHIP) is a trade association interested in Health Savings Account (HSA) Plans. It doesn't track all high-deductible health plans, but it did survey 83 insurance companies this year. Despite increases in enrollment, HSA Plans were found to only account for about seven percent of health insurance coverage among people under 65.
Like other high-deductible health insurance plans, HSA Plans typically offer lower premiums than what is available with co-pay plans. Both pre-tax money and employer contributions are allowed, but there's no requirement to fund your HSA.
Contributions can be taken as deductions to reduce federal and state taxes in almost every state. That, along with tax-free earnings, make HSA Plans attractive.
The AHIP is tracking to see what effect new requirements that insurers spend a certain percentage of premiums on medical care or rebate policyholders will have on HSA Plan enrollment. To learn more about HSA Plans, please see our online resources.
Posted by Wiley Long at September 9, 2011 10:31 AM