Thursday, May 8, 2008

HSA Uptake Soars 

By Merrill Matthews, Jr.

Filed As:  Health Care

On April 30, America's Health Insurance Plans (AHIP) released its 4th annual survey of enrollment in HSA- qualified health plans. As of January 2008, more than 6.1 million Americans are covered HSA insurance plans, a 35 percent increase over last year and almost double the number in 2006. This represents an increase of approximately 1.6 million Americans enrolled in an HSA plan since January 2007.

Other key findings from the latest survey include:

  • The majority of the enrollment continues to come from the employer-based group market -- 4.6 million Americans with HSA coverage had employer-based coverage; 30% of individuals covered by an HSA plan were in the small group market, 45% were in the large-group market, and the remaining 25% were in the individual market.
  • Small businesses are strongly embracing HSAs -- HSA enrollment in the small group market increased 70% over the past year. Over 1.8 million Americans working for small businesses now have coverage through HSAs.
  • HSAs continue to make health insurance more affordable for the uninsured -- HSA products accounted for 31% of new coverage issued in the small-group market and 27% of their new purchases of health insurance in the individual market.

For the first time, AHIP's survey also provides enrollment data by state. For example, the survey finds that HSA enrollment as a percentage of individuals with private coverage (under age 65) is estimated to be the highest in Minnesota (9.2 percent), followed by Louisiana (9.0 percent), Washington, D.C. (8.7 percent), Vermont (7.5 percent) and Colorado (7.1 percent). States with the largest numbers of enrollees were California (639,000), Florida (397,000), Illinois (384,000), Texas (358,000), Ohio (353,000) and Minnesota (325,000). On the low end are Hawaii (0.1 percent), Massachusetts (0.9 percent), New Mexico (0.9 percent), West Virginia (1.0 percent) and New York (1.1 percent).

For more information about the 2008 census, please visit www.AHIPResear ch.org.
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