Tuesday, October 26, 2004
HSA savings for small businesses documented
["Small Businesses Are Saving 44% Today on Their Health Insurance Premiums With Health Savings Accounts (HSAs)," The Center for Health Transformation, 25 October 2004.]
Looking for real-life examples of the savings possible through HSAs? The Center for Health Transformation recently compiled a list of 31 cases from across the country where HSAs are lowering the cost of insurance for individuals and employers:
The following 31 examples are of small businesses or self-employed individuals saving money today on their health insurance premiums because they adopted health plans with Health Savings Accounts (HSAs).
In 27 of these examples we have data to calculate the percentage that these companies are saving in 2004 by adopting HSA plans. For these 27 small businesses, they are saving an average of 44% on their health insurance premiums. The savings are so substantial that many of these businesses are able to make significant contributions to the HSAs of their employees.
With savings like these, thousands of previously uninsured individuals, families, small businesses, and family farms are finding affordable insurance either for the first time or the first time in a long time. Assurant Health reports that 43% of its HSA applicants were previously uninsured. Similarly, eHealthInsurance reports that approximately 33% of its HSA purchasers were previously uninsured.
Additional substantial savings on health insurance premiums for individuals, families, small businesses, and family farms will be possible if current policy proposals are implemented to create a national health insurance market and make deductible the premiums paid on HSA plans.
The Flint Hills Center, together with The Kansas Health Partners Benefit Association, will be hosting an in-depth workshop on lowering health insurance costs in November. For more information or to register, visit www.flinthills.org.
[Matthew Hisrich, "HSAs are increasing Americans' health coverage," The Topeka Capital-Journal, 26 September 2004.]
["Small Businesses Are Saving 44% Today on Their Health Insurance Premiums With Health Savings Accounts (HSAs)," The Center for Health Transformation, 25 October 2004.]
Looking for real-life examples of the savings possible through HSAs? The Center for Health Transformation recently compiled a list of 31 cases from across the country where HSAs are lowering the cost of insurance for individuals and employers:
The following 31 examples are of small businesses or self-employed individuals saving money today on their health insurance premiums because they adopted health plans with Health Savings Accounts (HSAs).
In 27 of these examples we have data to calculate the percentage that these companies are saving in 2004 by adopting HSA plans. For these 27 small businesses, they are saving an average of 44% on their health insurance premiums. The savings are so substantial that many of these businesses are able to make significant contributions to the HSAs of their employees.
With savings like these, thousands of previously uninsured individuals, families, small businesses, and family farms are finding affordable insurance either for the first time or the first time in a long time. Assurant Health reports that 43% of its HSA applicants were previously uninsured. Similarly, eHealthInsurance reports that approximately 33% of its HSA purchasers were previously uninsured.
Additional substantial savings on health insurance premiums for individuals, families, small businesses, and family farms will be possible if current policy proposals are implemented to create a national health insurance market and make deductible the premiums paid on HSA plans.
The Flint Hills Center, together with The Kansas Health Partners Benefit Association, will be hosting an in-depth workshop on lowering health insurance costs in November. For more information or to register, visit www.flinthills.org.
[Matthew Hisrich, "HSAs are increasing Americans' health coverage," The Topeka Capital-Journal, 26 September 2004.]
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