August 2004

HSAs are ‘growing’ on Americans

The concept of health savings accounts (HSAs) is growing on Americans. According to survey results issued by America’s Health Insurance Plans (AHIP), more than 70 percent of Americans with private health insurance have a favorable opinion of HSAs.

HSA-based health insurance plans combine individually owned savings accounts with traditional major medical insurance. HSAs give individuals the opportunity to use tax-free funds to pay day-to-day medical bills and to save for future health care expenses.

The survey shows many consumers lack detailed information about how these new plans actually work. However, once people have information about HSAs, they generally react positively to the opportunity to play a more active role in seeking health care coverage, she said.

The consumer survey released was conducted by Public Opinion Strategies in mid-July and questioned 500 privately insured adults under the age of 65. It has a margin of error of 4.4 percent

Survey results are available on the web at http://www.ahip.org/ by clicking into the press release in the "In the News" section on the home page.

Source: America’s Health Insurance Plans, www.ahip.org

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