Progressives refer to health savings accounts (HSAs) plus high-deductible plans (HDHPs) as "crazy."
But according to a the most recent figures on the number of people in North Carolina, our state has 128,143 crazy people who have chosen these plans. And the numbers are growing rapidly. Here are some highlights from the national numbers:
• There were 35 percent more HSAs in January, 2008 than 12 months prior. This continues a blistering growth curve highlighting the popularity of HSAs.
• In the small group market, there were 70 percent more HSAs over that time period.
• The average annual premium for a single person age 30-54 was $2,278 ($189/month).
• Among small group plans, the average lifetime maximum benefit was $3.9 million.
o A full third of small group HSAs had unlimited lifetime benefits.
• HSAs are most popular in Minnesota, Louisiana, and, oddly enough, the District of Columbia. HSAs have the most growth potential in states you’d expect: New York, Massachusetts, New Jersey, and Hawaii.
Up with HSAs. (HT: Jameson Taylor)