The average balance in health savings and similar accounts fell slightly in 2010, but the number of account-holders and total assets grew, according to a report by the Employee Benefit Research Institute.
The HSA is a tax-advantaged account patients use in combination with high deductible insurance policies, which have also been growing rapidly. Average balances in HSAs and similar health reimbursement arrangements leveled off in 2008 and 2009 and fell 4.5 percent last year, from $1,419 in 2009 to $1,355. Some $7.7 billion was held in 5.7 million accounts in 2010, up from $7.1 billion in 5 million accounts in 2009.
The drop in the average balance may have resulted from a decline in account-holders’ contributions, but could have also been caused by higher spending or the high growth in new accounts, which start with low balances, according to a report by the American Medical News.
Read the Employee Benefit Research Institute release on healthcare spending.
Read the American Medical News report on healthcare spending.
Read more on healthcare spending:
– Slower Use of Healthcare Services Expected to Continue for Several Years
– Healthcare Spending Logged Historically Low Increase in 2009
– Inflation in Health Benefits Highest Since 2004; Deductibles Reach $1,200
