The number of people enrolled in Health Savings Accounts (HSA) have been increasing dramatically ever since 2004, when they first became available. But some health care consultants say 2008 will be the breakout year for the HSA.
HSAs are still a relatively new idea in the health care industry — but so far, they"re doing well. Currently, there are roughly 6 million accounts open. Experts guess around 4 million more will be opened in 2008. That would put HSAs on track for meeting (or exceeding) the original estimate that 15 million would be open by 2010.
The Washington Times reported the surge would come largely from more big businesses adopting HSAs as a way to save money on their employee"s health care costs. Aetna, a leading health insurer, conducted a survey that found businesses" health care costs increased at a slower rate when more employees were enrolled in HSAs. According to their survey, the rate of increase dropped from 8% to 6%.
Will 2008 be the year of the Health Savings Account? We"ll have to wait and see.