Printer Friendly

Study analyzes HSA growth, account characteristics.

Each year, AHIP analyzes health savings account financial activity, based on data provided by three large HSA bank trustees representing more than 1.2 million HSA accounts open as of Dec. 31, 2009.

Unlike AHIP's annual census of HSA/HDHPs, which provides a nationwide count of enrollment in high-deductible health plans associated with HSAs, this report does not include data from all HSA accounts in the United States. However, the three responding banks represent a substantial share of HSAs in place, and the characteristics of their HSA accounts are likely commonplace in the industry.

Among the findings of the report are the increase in open accounts since HSAs were introduced in 2004, the average age of HSA policyholders, and the nature of the open accounts.

The study provides a comprehensive snapshot of the health savings account industry, with high hopes for the future of these plans.

HSA Accounts in Study, by Year Opened

'04              1%   10.7K
or earlier
(includes MSA
rollover) *

'05              5%   60.6K

'06             12%  153.4K

'07             18%  217.4K

'08             30%  365.6K

'09             34%  420.8K

* 'MSA' refers to Archer Medical Savings Accounts, which were
authorized prior to 2004.

Note: Table made from bar graph.
COPYRIGHT 2011 Summit Business Media
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2011 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:PRODUCTS: HSAs
Publication:Agent's Sales Journal
Date:Mar 1, 2011
Words:201
Previous Article:Educating clients is key to growing HSA sales: product's growth driven by its ability to provide solutions.
Next Article:Q Social media seems impersonal, but I hear so much hype about it. Is it an appropriate tool for my business? A Social media is absolutely a great...
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters