Other key findings of the 2021 CEHCS:

Enrollment in health savings account (HSA)-eligible health plans and health reimbursement arrangements dipped one point to 18% in 2021, after reaching a record high in 2020. Similarly, enrollment in health plans with high deductibles that were not eligible to be paired with an HSA account fell from 15% to 13%.
Traditional plan enrollees are more satisfied than HDHP enrollees with their overall health plan, with 63% of traditional plan enrollees being "extremely" or "very" satisfied, compared with 44% of HDHP enrollees. The difference in satisfaction appears to be the result of out-of-pocket spending for prescription drugs and medical services, according to EBRI officials, noting a lack of difference in satisfaction concerning the quality of care received, ease of getting appointments, or choice of doctor. It's worth noting, however, that satisfaction levels among HDHP enrollees nearly double when tenure with their health plan goes from less than one year to three or more years.
About two-thirds of individuals report having the choice of at least two health plans, especially HDHP enrollees. According to the survey, 27% of HDHP enrollees say they had three health plans to choose from, compared with 18% among traditional plan enrollees.
In terms of choosing a health plan, most people surveyed place high priority on the network of health care providers, prescription drug coverage, low out-of-pocket costs, low premiums, and a simple-to-understand program. "Generally, traditional plan enrollees and HDHP enrollees ranked these aspects of health care in the same order, with one exception," Paul Fronstin, EBRI's director of the health research and education program and co-author of the report, said in a statement. "Traditional plan enrollees reported that low out-of-pocket costs for doctor's visits were more important, with the low cost of premiums being less important when selecting a plan. However, HDHP enrollees indicated that low premiums were more important than low out-of-pocket costs when selecting a plan."
More than half of all respondents reported using their HSA to pay for current out-of-pocket expenses, and nearly one-half (47%) were using HSAs to cover unexpected medical expenses. Almost 40% were using them to minimize taxes, and about one-third were using them to pay for a mix of short-term and long-term health care expenses or to reimburse themselves for out-of-pocket expenses when they needed the money. Notably, 28% were using them to invest.

Our latest research finds that those with HSAs use these accounts in a way that best suits their perceived needs," added Lisa Weber-Raley, chief research officer for Greenwald Research, which conducted the study with EBRI. "In the future, employers may consider providing additional information to their employees, as many survey respondents mentioned they would be more likely to accumulate and invest unused funds if they were provided an annual review of their HSA balance."

Instant Insights /

Telemedicine draws rave reviews from users, according to EBRI's annual survey

More From HR Executive

Related Stories

Recommended For You