PIggy bank with coins 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.

“They haven’t had a lot of time to build up a very large balance, but they have enough time to build up a large enough balance to cover their deductible,” says Paul Fronstin, director of EBRI’s Health Research and Education Program. “We’ve done lots of work on the impact of the health plan on use of services, but we haven’t looked at how account balances affect use of services.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

Emily Payne

Emily Payne is the current deputy editor 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.

More from this author



Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.