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Few Open HSAs or HRAs, EBRI Finds

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About 1% of privately insured Americans are enrolled in a consumer-driven health plan, while another 7% have high deductible health plans, a new study shows.

The study, a joint survey by the Employee Benefit Research Institute and the Commonwealth Fund, Washington, found the percentage having CDHPs was unchanged since 2006, while those having HDHPs declined from 9% a year earlier.

Among 8.5 million Americans ages 21-64 who had health plans with deductibles high enough to qualify for health savings accounts, just 2.6 million were offered or were aware of the option to open an HSA. And just 1.3 million actually had either an HSA or a health reimbursement arrangement, the study found.

Among those with a CDHP, 57% had an account for less than one year, 30% had the account for one to 2 years, and 12% had accounts for 3 years or more. The remainder did not provide an answer.

As for the amount of money currently in the account, 14% had none and 32% had less than $500. Another 15% had $500-$999, and 25% had $1,000 or more. The remaining 14% didn’t know how much was in their account.