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More Americans prefer Health Savings Accounts

More Americans prefer Health Savings Accounts

Owners of Health Savings Accounts or HSAs are tremendously pleased with their health savings accounts. According to a survey conducted by OptumHelath Inc, almost 91% HSA owners believe that such health accounts should continue as a preference for the Americans. Over 80% surveyed people mention their capacity to save dollars for upcoming healthcare expenditures as the key reason for creating and putting money into their health savings accounts. The nation-wide survey also revealed that 70% of HSA owners make $76,000 per year or not as much of, in income.

According to Chad Wilkins, chief executive officer for OptumHelath Financial Services, HSAs have a very solid hold across a wide array of income levels and are assisting individuals become superior healthcare customers.

According to the survey conducted by OptumHealth, 83% HSA customers are fully satisfied with their HSAs, almost 78% of HSA owners think that the continuous availability of health savings accounts must be a part of a healthcare revolution that may happen; while more or less 75% customers committed that they would refer HSAs to their family members and friends. 30% of the surveyed customers spoke that they may not have a health insurance, unless it was for their health savings accounts.

The survey also revealed that HSA consumers are involved in their physical as well as financial well-being. For instance, about 65% of the surveyed people said that they asked about generic choices for medications and almost 45% said that they inquired about the charges.

HSA customers also felt that people should be more involved and concerned about their healthcare. The study found that 82% respondents admitted that the people must investigate their healthcare choices and try to obtain the greatest price; as they generally do for their primary consumer purchases. 72% of the respondents told that the people must be responsible to manage their healthcare expenses and costs.

More and more companies are turning to consumer-driven health plans or CDHPs and health savings accounts or HSAs for providing coverage to the dependants and employees. According to a survey conducted by National Business Group on Health and Watson Wyatt Worldwide, about 51% of the employers currently have a CDHP in position, which is an increment of 9% from the previous year. Inside Consumer-Directed Healthcare mentioned that total number of health savings accounts increased by almost 40% year-to-year, up to January, 2009; while average savings amount increased by 45%.

With increasing demand by employers, increased HSA usage by the customers and affirmative reactions from the survey, it's absolutely clear that such accounts are now considered as a tool to aid people to reach their healthcare goal, as said by Wilkins.

The survey was performed on the web between 27th February and 20th March, 2009, by an independent research firm. It was conducted nationally on 500 HSA consumers.

The survey estimated the level of satisfaction, inspirations for obtaining a health saving account and the consequences the HSAs had on involving people to manage a part of their healthcare savings and expenses. Customers had a health savings account for minimum one year, were insured by a high-deductible healthcare plan and had an active health savings account during the time of survey.

As per IRS regulation, an HSA is a tax-free health savings and spending account available to the families and individuals who have high-deductible medical plans. OptumHealth Bank, Member FDIC, is a leading administrator of HSA that has almost 500,000 HSAs and about $800 million in health savings account investments and deposits.

An overview on OptumHealth

OptumHealth Inc. aids people to navigate healthcare system, helps them financially for their healthcare requirements, and also assists them to meet their health target. It is a UnitedHealth Group Company and a leader in health and wellness business. For more information about the company, log on to www.optumhealth.com.

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