In 2023, more than 70 million Americans financed their health care with Health Savings Account-qualified health insurance. For more than 20 years, HSAs have helped people manage their growing out-of-pocket health care costs and save for their future medical needs.
The ABA HSA Council represents more than 90% of HSAs in the U.S. The banks and insurers who lead the Council created a new infographic showing policymakers that 75% of HSA owners are from households earning less than $100,000 a year, and more than 80% of HSA owners receive employer contributions.
As you engage with elected officials at state and national levels, please share this new infographic with them, their staffs and any pertinent business leaders. The HSA industry is growing — educate yourself on the value of HSAs!
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Problem: Increasing out-of-pocket expenses
Solution: Health Savings Accounts enable Americans to save so they can manage increasing deductibles and out-of-pocket expenses.
Affordable Care Act exchange plans tend to have significantly higher deductibles. According to an HHS study, in 2021 the average deductible for an ACA individual silver plan was $4,500.
Myth: HSAs are only for wealthy people.
Fact #1: HSAs are used by people of all income levels.
Fact #2: Employer HSA contributions benefit American workers and represent a progressive benefit that enables lower income workers to take advantage of an HSA.