Health Savings Accounts Increasingly Popular

More than 6.1 million Americans were covered by Health Savings Account-eligible insurance plans in January 2008, America’s Health Insurance Plans reported yesterday. That’s 1.6 million more people than in January 2007. The average annual deductible was $2,600 for single coverage and $4,846 for family coverage, while the average annual out-of-pocket limit was $3,661 for single coverage and $7,057 for family coverage. HSA products accounted for 31% of new coverage issued in the small-group market, and 27% of new purchases in the individual market, AHIP said.

Rate Of Growth For Family Coverage Premiums Eclipses Income

The amount employees pay for family coverage increased an average 30% between 2001 and 2005, according to study released today by the Robert Wood Johnson Foundation. That’s 10 times the average pay increase for family policyholders over the period, the study adds. “As costs continue to go up, fewer people can pay their portion of the premium, and fewer employers are able to offer insurance benefits,” said RWJF President and CEO Risa Lavizzo-Mourey, M.D. “This research shows that an ever-increasing number of people will join America’s uninsured unless our nation’s leaders act to reform our health care system.” The study was released in conjunction with Cover the Uninsured Week (April 27-May 3), an annual campaign led by RWJF to raise awareness about the 47 million Americans without health insurance. The AHA is a national partner in the campaign, which includes events to help those who are eligible enroll in low-cost or free health coverage programs.