Employees are embracing Health Savings Accounts (HSAs) at a very quick pace as they shift towards lower- premium High Deductible Health Plans (HDHPs). The flexibility of this Consumer Driven Account (CDA) makes it one of the most cost-effective ways to pay for qualified healthcare expenses and people are taking notice. Each year, HSAs are more prevalent in the healthcare and financial industry news as a great strategy to set money aside to pay for qualified expenses.
Since 2003, these Plans have been the fastest growing employee benefit. Why the popularity? Simply put, HSAs make good sense. Besides helping employers reduce their health insurance costs, when HSAs are in place, employers add depth to their employee benefits and keep more money in their pockets. More and more employers are choosing this consumer driven healthcare account to empower their employees.