HSAs Get High Marks for Employee Health-Care Engagement

September 24, 2009 (PLANSPONSOR.com) - Most employers and account holders utilizing Health Savings Accounts (HSAs) and HSA-qualified health plans are satisfied with their coverage, spend less, and are more engaged in managing health benefits, new survey data indicated.

A news release from ACS HSA Solution says that more than half of account holders said they more closely monitor their health-care costs after moving to an HSA. Meanwhile, 48% of HSA account holders read their medical bills more closely, 46% have a better understanding of where their money goes, and approximately 40% more closely evaluate costs of elective procedures.

Other survey findings included that:

  • Eighty-four percent of account holders said their HSA-qualified plans are affordable.
  • Seventy-two percent of account holders said they pay the same or less than with a traditional type of health plan.
  • Eighty-one percent of account holders said the ability to personally control health-care costs is an important factor that caused them to select an HSA.
  • Of the employers offering HSAs for more than three years, 86% indicated that plan costs were the same or less than the previous year. Ninety-six percent of employers claimed that HSAs allow the company to continue offering group-sponsored health insurance.

“With the vigorous debate over health care reform, and more specifically health insurance reform, the survey results indicate that employers and account holders more effectively control costs and are satisfied with their coverage by utilizing HSAs,” said Tom Hricik, national director, ACS HSA Solution, in the news release. “The survey results also indicate that HSAs are being used by account holders as an important vehicle to save for future medical expenses.”

Survey reports are available at no cost at Buck Global Survey Resources, 500 Plaza Drive, Secaucus, New Jersey, 07096-1533 or by phone at 1-800-887-0509.

ACS is a top HSA administrator for clients around the country.