Study Reveals HSA and HDHP Trends

Source: ProWEB Wire (Industry News)
Thursday, September 27, 2007

Health savings account (HSA) owners who have individual high-deductible health plan (HDHP) coverage pulled out 1.6 times as much money from their accounts so far in 2007 as those with HSA-based coverage through an employer, according to First Horizon Msaver, Inc.

Findings indicate that during this period, employees also made 3.5 times as many HSA contributions as did individuals with individual HDHP coverage. According to Msaver, the average account holder used a debit card or wrote a check 5.5 times and the average transaction was for slightly more than $125.

It is reported that health care spending typically increases with age among HSA holders, finding indicate that it peaks between the ages of 40 and 49, according to Msaver. Finally, Msaver reports that older employees also contributed about 10 times as much to their HSAs compared to those in their 20s, accumulating $3,440 and $341, respectively.