Health savings accounts (HSAs) were authorized by the 2003 Medicare Modernization Act and were first offered in 2004. HSAs give consumers incentives to manage their own health care costs by coupling a tax-favoring savings account used to pay qualified medical expenses with a high-deductible health plan (HDHP) that meets certain requirements for deductibles and out-of-pocket expense limits.
Most HDHPs cover preventive care services (e.g. doctor office visits, routine medical exams and tests, immunizations, well-baby visits) without requiring the enrollee to first meet the deductible. Consumers, family members, and employers can deposit amounts into the tax-favored account up to an annual contribution limit to be used for qualified medical expenses. Funds not withdrawn for “qualifying” medical expenses can remain in the account and be rolled over annually to build savings for future health-related costs.
Reports
A Preliminary Analysis of Health Savings Account Balances, Contributions and Withdrawals, 2007 & January–June 2008
Health Savings Accounts and Account-Based Health Plans: An Overview of Research
January 2008 Census Shows 6.1 Million People Covered by HSA/High-Deductible Health Plans
AHIP's census of the HSA/HDHP market shows continued growth in coverage, especially in the small-group market, and includes enrollment totals by state.
A Survey of Preventive Benefits in Health Savings Accounts (HSA) Plans, July 2007
Most HSA plans provide first-dollar coverage for recommended preventive care
January 2007 Census Shows 4.5 Million People Covered by HSA/High-Deductible Health Plans
Health Savings Account/HDHP enrollment continues to grow in both the Individual and Group Markets.
HSAs and Account-Based Health Plans: An Overview of Preliminary Research
Press Releases
More Than Six Million Enrolled in Health Savings Account Plans (4/30/2008)
HSA Plans are Covering Preventive Care on a First-Dollar Basis (11/19/2007)
4.5 Million Enrolled in Health Savings Account Plans (4/2/2007)
