Driven by the emerging private health exchange sector, health savings accounts may be poised to quadruple their growth over the next six years, according to a new report published by Consumerdriven, LLC and HSA Consulting Services, LLC. Between February and April 2014, veteran consultants John Young, chief executive officer, Consumerdriven, LLC, and Todd Berkley, president, HSA Consulting Services, LLC, approached 33 private exchange vendors, gathered data and conducted interviews with the objective of determining if there was a relationship between the method of benefit distribution, the financial incentives used (i.e. defined contribution vs. subsidized premium) and health savings account (HSA) adoption. The resulting study, The Power of Choice: The Game-Changing Combination of Private Exchanges and Health Savings Accounts, reveals important data on the increasing role of health care consumerism strategies in the future of the U.S. health care system.
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