Beginning March 29: To help insurance agents and financial advisors like you guide clients in making critical wealth, health and life decisions we will be moving our coverage from to

Our comprehensive coverage will help you expand your knowledge base and adapt a new client-centric approach that incorporates both insurance and investment solutions.

ThinkAdvisor’s new Life/Health channel is your roadmap to thriving in a disrupted environment.


Filed Under:Health Insurance, Individual Health

HSA holders worried PPACA will take away control

It’s no secret users of health savings accounts are, for the most part, cost-conscious. Research shows users tend to manage their money and health care behaviors more wisely, while keeping costs front-of-mind.

So it makes sense that, according to a new survey, HSA members are worried that the Patient Protection and Affordable Care Act will increase their costs and move them away the forefront of their own health care.

Almost half of HSA account holders (46 percent) think PPACA will increase the overall cost of health insurance, while just 14 percent think it will decrease costs and 12 percent feel it will have no impact, a survey of 23,000 HSA members from Buck Consultants found.

Similarly, 46 percent believe their personal out-of-pocket medical costs will rise because of the law, while 13 percent believe it will cut their costs and 13 percent don’t think it will have an impact.

“HSA members’ concern about ACA-driven cost increases aligns with their heightened consumerism, since the top eight out of 11 actions that occurred after enrolling in an HSA involved saving, monitoring costs and shopping wisely,” said Ruth Hunt, a principal and health engagement leader for Buck Consultants. “HSA owners may fear the unknowns that could be out of their control versus their experience with HSAs.”

Buck Consultants found that 42 percent of respondents said they remain undecided as to whether they will obtain health insurance on exchanges, while 35 percent of respondents are unlikely to do so, and 23 percent likely will.

Overall, the survey — out Wednesday — again vindicated an insight proponents of health savings accounts have long argued: those with HSAs are more active in managing their health.

More than half of respondents, 51 percent, set aside more money for potential medical costs than before they had HSAs. Twenty-nine percent have more discussions with their doctors about the cost of care and 13 percent more actively manage their chronic disease

“HSA members are making wiser health care decisions,” said Travis Klavohn, director, consumer health solutions of BenefitWallet. “They’re evaluating costs more closely before receiving care, shopping for lower-priced drugs and choosing less costly services. They attribute their changed behavior to owning an HSA.”

Respondents indicated greater engagement with each of 11 health management activities measured.

See also:

Originally published on BenefitsPro. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Featured Video

Most Recent Videos

Behind the scenes with Vicki Gunvalson [VIDEO]


In this exclusive interview, Vicki Gunvalson shares how she built a $15 million a year annuity business by planning for...

Regulator: Market may need to reinvent LTCI


Cioppa says Maine's governor wants to spur the creation of better products.

Dementia: It's more than Alzheimer's


An association calls for policymakers to remember lesser-known neurodegenerative conditions.

Protesters Disrupt WellPoint Annual Meeting


Hecklers call for more disclosures of information about political contributions.

Related resources

More Resources


Power your business with up-to-the-minute insurance news, analysis, and best practices from LifeHealthPro Daily eNewsletter – FREE.

Power your business with LifeHealthPro Daily eNewsletter – FREE.

Enter a valid email address.
Nichole Morford

Nichole Morford
Managing Editor

Thank you for subscribing to LifeHealthPro Daily!

Check Out More eNewsletters Now! Close

Advertisement. Closing in 15 seconds.