Last week’s release of the largest annual survey of employer-provided health insurance drew renewed attention to the ongoing debate about ways to slow the growth of health costs. The survey, conducted by the Kaiser Family Foundation, provided further evidence of one model making an important contribution in reducing health costs.
The survey found that health savings accounts tied to high-deductible plans with lower premiums have grown in popularity. Overall, 14% of all those with employer-provided insurance participate in health savings account (HSA) options.
While some employees may initially blanch at the high-deductibles associated with HSA-eligible insurance policies, most employers make cash contributions to the tax-preferred health savings accounts to help their employees pay for routine health expenses. The Kaiser survey found that more than three in four workers participating in HSA plans receive account contributions from their employers—an average of $769 for single policies, and $1,347 for family plans.
Read the full report here.
Contact Steven G. Cosby, MHSA with questions or to request more information and to schedule a healthcare plan evaluation, savings analysis or group plan solution for your company.