Employees who have saved enough in their HSA to meet their insurance deductible are at risk of succumbing to a "money to burn" mindset and spending on unnecessary health care. (Photo: Shutterstock)
Employers have made a big push in recent years to encourage employees to adopt high-deductible health plans (HDHP), incentivizing the switch with employer contributions to a health savings account (HSA). As of last year, according to data from the Employee Benefits Research Institute, 46 percent of Americans with private health insurance were enrolled in a high-deductible health plan (though not all have a corresponding HSA).
As HSAs gain traction–and balances–new insights into consumer behavior can be gleaned. In a recent webinar, EBRI explored the results of its recent study on HSA account balances. There are currently an estimated 25 million HSA accounts, 76 percent of which have been opened since 2015.
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Emily Payne
Emily Payne is director, content analytics for ALM's Business & Finance Markets and former managing editor for BenefitsPRO. A Wisconsin native, she has spent the past decade writing and editing for various athletic and fitness publications. She holds an English degree and Business certificate from the University of Wisconsin.
