News of the Day ... in Perspective2/13/2004
Experience with HSAs disproving naysayers.
The Associated Press asked Democratic candidates for President whether health savings acounts are a good way to control health costs. Howard Dean, John Edwards, John Kerry, and Dennis Kucinich all said no, reiterating concerns that HSAs are for the wealthy and healthy (AP 2/12/04).
At a Feb. 13 congressional briefing sponsored by the Galen Institute, six insurance companies (Aetna, Definity Health, Destiny Health, Assurant Health, Lumenos, and Destiny) presented evidence to the contrary.
An Aetna study comparing enrollees in its consumer choice HealthFund with a matched population showed that eligible charges from the HealthFund group rose 1.5%. compared to 15.7% in the control group. Information resources like nurse hotlines were used more often by HealthFund members. More than half (51%) of HealthFund enrollees had money left to roll over in their accounts at the end of the year.
Destiny reported that blue-collar and white-collar workers were equally likely to enroll in their program, and that lower-income workers were more likely to value the savings opportunity. www.galen.org/ccbdocs.asp?docID=601