HSAs Provide Greater Control Over Decision-Making, Cost Effectiveness

WASHINGTON, Sept. 15 /U.S. Newswire/ -- The popularity of health savings accounts (HSAs) coupled with high-deductible health plans is equally distributed across consumers aged 25 to 54, with demand also coming from all income and education segments of the population, according to a new survey released today by the Blue Cross and Blue Shield Association (BCBSA).

The survey found that HSA products are on par with non consumer-directed health plans (CDHPs) with 85 percent of respondents saying the product meets or exceeds expectations for controlling healthcare expenditures. The survey also revealed that 47 percent of those consumers with HSAs experienced an increase in satisfaction over the previous year, while only 27 percent of consumers with traditional health plans showed an increase in satisfaction.

"We are encouraged that satisfaction levels with HSAs continue to be positive and expect that increasing numbers of companies and organizations will offer HSA options to employees," said Maureen Sullivan, senior vice president, Strategic Services, BCBSA. Sullivan presented the findings today at the National Consumer-Driven Healthcare Summit in Washington, D.C.

In 2006, 57 percent of HSA-eligible enrollees opened HSA accounts. The survey also found that 38 percent of account holders select HSAs for greater control over their healthcare spending, 46 percent because HSAs are less expensive, while 38 percent of account holders view HSAs as a long-term healthcare savings vehicle.

HSA products also continue to be an attractive option for the uninsured. Ten percent of consumers with HSA accounts opened were previously uninsured as compared to 3 percent for the traditional market.

In contrast to those with traditional health insurance, the survey found that those with HSA accounts are more likely to show interest in getting access to information about wellness programs as well as information about providers and pharmaceuticals.

The Web-based survey conducted this past August by Knowledge Networks for BCBSA queried 3,000 consumers enrolled in Blue Cross and Blue Shield CDHPs, non-Blue CDHPs, and non-CDHP health plans. The survey examined areas such as demographics, member expectations, satisfaction, healthcare utilization and likelihood of renewal.

"The companies of Blue Cross and Blue Shield are doing business differently in a consumer-driven world. They are putting in place key programs that support CDHPs and HSAs," Sullivan said.

In support of these programs, Blue Cross and Blue Shield companies recently have announced major consumer healthcare transparency initiatives with the launch of Blue Distinction and Blue Health Intelligence (BHISM). Blue Cross and Blue Shield Plans are also continuing to develop a financial services program to respond to the increasing demands of the consumer-directed marketplace. The number of Blue Cross and Blue Shield members currently with HSAs has doubled to 1.2 million account holders in 2006 -- approximately 40 percent of the total HSA market.

To access a webcast of this presentation, go to: http://bcbshealthissues.com/events/consumerdriven2006

The Blue Cross and Blue Shield Association is made up of 38 independent, locally owned and operated Blue Cross and Blue Shield companies that collectively provide healthcare coverage for nearly 94 million -- one-in-three -- Americans. For more information on the Blue Cross and Blue Shield Association and its member companies, visit http://www.BCBS.com. For more information on Blue Cross and Blue Shield Association's policy positions and the healthcare debate, visit http://www.BCBSHealthIssues.com.

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-0-To: National Desk

Contact: Paul Cholette of Blue Cross and Blue Shield Association, 312-297-5954, paul.cholette@bcbsa.com

/© 2006 U.S. Newswire 202-347-2770/