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April 2008
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HSA Market News, April 2008; Volume 5, Number 4
GA law offers tax breaks, credits…Substantiation bill faces veto…HDHP lives top 6.1 million…Rich favor HSAs, GAO says…Uninsured lack assets to pay HDHP deductibles…Aetna CDHP lives top 1.3 MM…United HSA lives surpass HRA…HSA Bank assets hit $544 MM…and more…
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GA LAW GIVES HSA PLANS TAX BREAKS
Georgia is providing under a new law various tax breaks and credits to consumers, health plans and employers to promote the sale and adoption of HSA-compatible high-deductible health plans.
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HSA SUBSTANTIATION BILL FACES VETO
President Bush would likely veto legislation requiring banks to substantiate whether payments and withdrawals made from HSAs are for healthcare expenses.
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HDHP MEMBERSHIP TOPS 6.1 MILLION, UP 35%
Enrollment in HSA-compatible high-deductible health plans was 6.118 million as of January 2008, up 35% compared to January 2007, according to America’s Health Insurance Plans (Washington).
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UNINSURED LACK ASSETS TO PAY HDHP DEDUCTIBLES
A study published by Health Affairs suggested that “many uninsured household do not have a sufficient financial cushion to absorb the potential out-of-pocket liability” that can arise from HSA-compatible high-deductible health plans.
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AETNA CDHP LIVES HIT 1.359 MILLION
Aetna Inc. (Hartford, CT) reported that it had 1.359 million members in its HealthFund family of consumer-directed health plans as of March 31, 2008, up 49% from the same period a year earlier. Membership was up 37%% from year-end 2007. Aetna’s HealthFund product line includes both HSA and HRA plans.
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UNITED HSA MEMBERSHIP TOPS HRA
UnitedHealth Group (Minnetonka, MN) announced that it had 2.7 million members enrolled in HRA and HSA-compatible health plans d health plans as of March 31, 2008, and for the first time the number of HSA lives surpassed the HRA member total.
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