Health Savings Accounts
 
Health savings accounts (HSAs) are like personal savings accounts, but the money in them is used to pay for health care expenses. You — not your employer or insurance company — own and control the money in your health savings account.
 
The money you deposit into the account is not taxed. To be eligible to open an HSA, you must have a special type of health insurance called a high-deductible plan.

 

 

Companies that offer HSA Compatable High Deductable Health Plans;
•  Blue Cross Blue Shield of Minnesota
•  Health Partners
•  Medica
•  Others
 
  • As of January 2014, nearly 17.4 million people were enrolled in HSA/HDHPs. This represents an increase of approximately 2 million enrollees since January 2013, 4 million since January 2012, and 6 million enrollees since January 2011. (Center for Policy and Research, America’s Health Insurance Plans, 2014)
     
  • Fidelity noted a 34 percent increase in HSA employer clients in 2014, with 137 companies now offering a Fidelity HSA to their workforce, up from 102 one year prior. This marks the firm's fourth straight year of double-digit client growth in this area. Fidelity now manages $1 billion in HSA assets, up 54 percent over the past year.

Health Savings Accounts

 
“A health savings account is a good deal, and all Americans should consider it…These accounts will be good for small business owners and employees…This will help more American families get the healthcare they need at the price they can afford.”
 
– President George W. Bush 

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