Individual Health Insurance

Another Year of Growth for HSA Programs

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In today's economy, health care affordability is on everyone's mind. That's why Health Savings Account (HSA) programs are a really smart and important consumer directed health care product. Combining a qualified high deductible health plan (HDHP) and a health savings account, HSA Programs offer you major medical coverage along with tax savings and more control over your health care expenses.

It seems their popularity is growing. According to the America's Health Insurance Plans (AHIP) annual census of its U.S. health insurance carrier members, 8 million people were covered by HSA-qualified HDHPs in January 2009, up from 6.1 million in January 2008.

And if you are considering purchasing individual health insurance, you'll see yourself in the statistics below:

• Enrollment rose to 1.8 million covered lives in January 2009, up from 1.5 million in January 2008
• Almost 92% of enrollees in HSA-qualified HDHPs were in PPO (preferred provider organization) products
• Based on the number of covered lives, 54% were male and 46% were female
• Of those covered under an HSA-qualified HDHP plan, 53% were aged 40 and above and 47% were below the age of 40

The statistics show that this plan is becoming more widely purchased by individuals and employees. The statistics help us understand that women, who traditionally use more preventive services, are finding the value in HSAs and making them fit their lifestyles. In fact, people of all ages are finding that this type of health plan can work for them. Your HSA bank can help with the math when purchasing a plan, and you can watch the savings really add up.