Health Savings Accounts (HSAs) To Double On A Year-To-Year Basis By January 2009

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The respected source for Health Savings Accounts metrics predicts HSAs will double on a year-to-year basis by January 2009, This is one of the conclusions drawn in the fourth annual mid-year analysis and forecast completed by Information Strategies, Inc. (ISI). Other findings indicate HSAs are strong in the Presidential battleground states; average company contributions to the first year's employee HSA custodial accounts rose to 17% and one in three new plan users did not have healthcare insurance. More data is available in a free summary.

We have boiled down our analysis into 23 distinct trend factors and are making them available in summary form

Health Savings Accounts will double on a year-to-year basis by January 2009,
This is one of the conclusions drawn in the fourth annual mid-year analysis and forecast completed by Information Strategies, Inc. (ISI), the respected industry chronicler of HSA activities.

Among the other findings of the report are:

  • The battle ground states for the presidential election are amongst the highest in terms of penetration by HSAs.
  • Average company contributions to the first year's employee HSA custodial accounts rose to 17% in 2008.
  • The characteristics of individual HSA purchasers are morphing with a larger percentage of younger users appearing while those over 55 are funding accounts with higher amounts.
  • However, income differentials between HSA purchasers and users of managed care plans continue to be imperceptible.
  • One in three individuals purchasing HSAs did not have healthcare coverage in the prior 12 months, a continuing trend.

According to JoAnn M. Laing, ISI's President & CEO, the midyear analysis and outlook shows great strength for HSAs particularly in the battleground states for the coming presidential election.

"We have boiled down our analysis into 23 distinct trend factors and are making them available in summary form," she added.
These findings are based on cumulative interviews of 33,000 individuals, 9,000 companies and numerous industry stakeholders.

The summary is available at no cost at http://www.hsafinder.com/forms/midyrreport.aspx.

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Donald Mazzella
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