Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Health Insurance

Eastbridge: Insurers Race To Enter HSA Market

Your article was successfully shared with the contacts you provided.

NU Online News Service, Jan. 29, 2004, 11:59 a.m. EST – Many insurers are racing into the new health savings account market.[@@]

Eastbridge Consulting Group Inc., Avon, Conn., recently surveyed insurers in the employee benefits market and found that 42% either have an HSA product ready or are developing an HSA product.

Another 25% of the insurers are deciding whether to enter the HSA market.

The early adopters tend to be national companies that already sell group health coverage, Eastbridge says.

About half of the early adopters intend to sell HSA products to individuals as well as to groups, Eastbridge says.

President Bush brought HSAs to life late in 2003 when he signed the Medicare Prescription Drug, Improvement and Modernization Act of 2003. A section near the end of MPDIMA lets employers, employees and individuals deduct contributions to HSAs when the HSAs are bought in conjunction with high-deductible health coverage.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.