Enrollment in health savings accounts jumped to more than 11.4 million as of Jan. 1, 2011, according to an annual census released June 14.

Between January 2010 and January 2011 the fastest growing market for HSA/HDHP products was the large employer group, with almost 2 million enrollees. The individual group market increased by 300,000 enrollees and small group coverage decreased by more than 200,000 the survey reports.

The annual census, conducted by America’s Health Insurance Plans, acknowledges states with the highest percentage of HSA enrollees younger than 65 with private health insurance:

• Minnesota (14.9%)

• Vermont (11.4%)

• Colorado (11.3%).

The states with the lowest percentage were:

• Hawaii (0.2%)

• West Virginia (2.1%)

• Mississippi (2.4%)

According to surveys, HSA growth can be contributed to premiums for high-deductible health insurance plans, which the law requires be linked to HSAs, tend to be lower than more traditional health plans.

AHIP received participation from mostly all private health insurance carriers in the HSA/HDHP market for this census. The census did not track participation in health reimbursement arrangement (HRA) products.

Register or login for access to this item and much more

All Employee Benefit Adviser content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access