About Me

Name: IQ HSA
Loading...

Create Your Own Blog Find Other Townhall Blogs

Comments

Blog Roll

 

HSA Fact Sheet

FACT SHEET:
 

DRAMATIC GROWTH OF HEALTH SAVINGS ACCOUNTS (HSAS)


THEN
(2004)…

  1. 438,000 -- Individuals were covered in November 2004 by HSA-type insurance plans -- according to the America Health Insurance Providers (AHIP).
  2. 113,000 (roughly 240,000 individuals) -- IRS data on individual tax returns reporting HSA deductions in tax year 20041.


NOW

  1. 3.2 million -- Seven fold increase to individuals covered by HSA type insurance plans (November 2004 to December 2005) -- according to AHIP.
    1. o 31% -- Previously uninsured individuals buying health insurance on their own.
    2. o 33% -- Small businesses not previously offering coverage.
    3. o Nearly 50% -- Age 40 or over.

  2. $1 billion -- Dollars invested in HSAs by Americans, according to data gathered by Inside Consumer-Directed Care (ICDC) newsletter Feb. 24 issue -- based on financial data provided by more than 60 financial firms including JPMorgan Chase, Wells Fargo and The Principal Financial Group.
  3. 42% -- Number of Individuals or families with incomes below $50,000 buying HSA type insurance on their own, according to "Health Savings Accounts: The First Six Months of 2005" report by eHealthInsurance.


T
HE
FUTURE

  1. 14 million by 2010 -- Treasury Department projection of HSA policies (covering 25 to 30 million people) -- based on current law.
  2. 21 million by 2010 -- Treasury Department HSA policies estimates rise by 50 percent (covering 40 to 45 million people) -- based on the President’s health care initiative.

 

 

1 Individual tax returns do not reflect employer financed HSA contributions.


Source: Intrernal Revenue Service

Email ItEmail It | Print ItPrint It | CommentsComments (0) | TrackbacksTrackbacks (0) | Flag as offensiveFlag as Offensive