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November 2006
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DEMOCRATIC SWEEP COULD HURT HSAs
Democrats are on record—they don’t like health savings accounts. In fact, Democrats and Republicans agree on very little when it comes to HSAs.
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HSA Market News: Volume 3, Number 11
Bank HSA deposits hit $1.2 BB...Dems sweep could hurt HSAs...CDHP costs up 5%, Mercer says...Cigna reports HSA savings...Chart: Costs by plan type...Chart: % employers with HSAs...Chart: HSA costs, contributions...CDHP costs rise 1.5%, Aon says...PWC says CDHPs show promise...United launched low-cost HSA...Chart: leading HSA banks...U.S. Bank expands HSAs...and more...
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LEADING BANKS HAVE $1.2 BB IN DEPOSITS
Twenty-four leading banks had 964,585 health savings accounts with an estimated $1.2 billion in total deposits as of Sept. 30, 2006, according to a tally by HMN.
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CDHP COSTS RISE 5.3% IN 2006, MERCER SAYS
Employer costs for consumer-directed health plans rose 5.3% to $5770 per employee per year in 2006, compared to $5480 last year, according to a study from Mercer Health & Benefits (New York).
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U.S. BANK EXPANDS HSA AVAILABILITY
U.S. Bank, a subsidiary of U.S. Bancorp (Minneapolis), announced in October 2006 that its HSA product will be offered by Affiliated Computer Services (Dallas) as an additional custodian option for the company’s HSA Solution product.
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CDHPs SHOW PROMISE ON MEDICAL COSTS, PWC SAYS
“It’s too early to say definitively that consumer-directed plans will lower overall health spending, but given their more flexible framework, they seem a promising way for employers to keep premium costs down,” said Jack Rodgers, managing director of the health policy economics group of PricewaterhouseCoopers (New York).
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