Friday, June 30, 2006

HSA concerns

Some concern in Ways and Means on Wed. over the problems associated with HSAs. Quote Kaiser Health Report,

"Witnesses at a House Ways and Means Committee hearing on Wednesday debated whether health savings accounts have improved health insurance and reduced costs, CQ HealthBeat reports. Health insurers and employers testified that HSAs offer new options for affordable health insurance and recommended that lawmakers pass several reforms to help increase enrollment. Karen Ignagni, president and CEO of America's Health Insurance Plans, said, "HSAs are helping a substantial number of previously uninsured consumers purchase coverage, accumulate savings for their future medical needs and access preventative care services." Jeffrey Cava, executive vice president for human resources and administration at Wendy's International, said company health insurance claims decreased by 14% during the first year HSAs became available to employees. In addition, 75% of employees received annual physicals during that time, up 25% from the previous year, and more employees used online information to help manage their health care, Cava said.

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