Use of Healthcare Accounts in the U.S. Is Booming as Healthcare Costs Rise
Healthcare-related expenses are nearing 20% of GDP in the
The increase in healthcare costs and the impact of the Affordable Care Act are the primary drivers leading consumers and employers to embrace healthcare accounts. HRA (Health Reimbursement Accounts (HRAs), Health Savings Accounts (HSAs), and Flexible Spending Accounts (FSAs) have been in use for years, but the influx of new users is profoundly changing the way these accounts are being used. In the past, account users were primarily savers seeking to take advantage of the tax savings these accounts afford since contributions to fund the accounts are not taxed if withdrawals are for expenses permitted by the
"The new users are active spenders, involved in how their healthcare dollars are spent and looking for the most effective way to use their healthcare account balances. The Affordable Care Act (ACA) is in part responsible for the wave of new users. Survival of the ACA is in question after the presidential election, but the use of healthcare accounts has been considered positive and will likely be front and center as new healthcare policies emerge," commented
Highlights of the research report include:
- Market trends boosting the growth of healthcare accounts
- The ways that employers are incorporating health savings accounts (HSAs) into their employee benefit plans
- The impact of government policy on the way health care accounts are being used
- Why the influx of new users is driving some providers to exit the market
- Consideration of new capabilities or feature to help consumers maximize their healthcare account balances
This research report contains 17 pages and 6 exhibits.
Keywords: healthcare, HSA, HRA, FSA, debit, prepaid, Affordable Care Act, ACA
Companies mentioned in this report include: Bank of America, ConnectYourCare, Devenir, Evolution Benefits,
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Read the full story at http://www.prweb.com/releases/2016/11/prweb13857688.htm
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