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Tuesday, 3rd April 2007

January 2007 Census Shows 4.5 Million People Covered by HSA/High-Deductible Health Plans

January 2007 Census Shows 4.5 Million People Covered by HSA/High-Deductible Health Plans
Source: America's Health Insurance Plans

4.5 million Americans are covered by lower-premium, high-deductible health insurance plans that are offered in conjunction with health savings accounts (HSAs), a 43 percent increase since last year, a new census released today by America’s Health Insurance Plans (AHIP) found.

The census found that more than one-fourth of those purchasing HSA plans in the individual market were previously uninsured and that almost half of those enrolled in such plans were over the age of 40.

The census also reveals that HSA plans provide value-added services. Most companies offer HSA plans that cover preventive care before the deductible is met, provide disease management programs for chronic conditions, and include a wide array of Web-based tools to help consumers make more informed decisions.

This is the first AHIP census that compiled information about the savings accounts that work in conjunction with HSA plans. Eighty-eight percent of accounts in place in 2006 had average annual balances of $2,500 or less, while 4 percent had average annual balances over $5,000. As of January 2007, 65 percent of accounts had been in place for less than one year.



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