Health Savings Accounts (HSAs) – February 2014 Newsletter

Enrollment period for 2014 has come and gone. If you are like many workers in the U.S. you probably noticed changes in your health care benefit offerings. For the first time in a long time, many workers are weighing their options for health care coverage as high deductible health plans with health savings accounts are becoming more the “norm” for health care benefits. As health care continues to evolve and take shape, employers and employees are adapting to keep pace. In an effort to reduce costs in response to the Affordable Care Act (ACA) and increase employees’ engagement in their own health care decision making, employers across the country are beginning to shift their focus from the traditional health care plans (HMO/PPO) to high deductible health plans (HDHP) coupled with health savings accounts (HSA). According to a 2013 survey[1] on the ACA’s impact on employer sponsored health care, one in four organizations (24.5%) is increasing their emphasis on an HDHP with an HSA, while an additional 14.3% are assessing the feasibility of adding one. If you have not yet been Read on! →