Health Savings Accounts Continue to Grow

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Health Savings Accounts (HSA’s) continue to grow in popularity according to data¬†gathered by Inside Consumer-Directed Care (ICDC). The organization reported in its August newsletter that financial firms have opened more than 1.17 million HSA’s¬†and manage nearly $1.5 billion in assets. This represents about a 50 percent growth rate since the beginning of 2006.

Major firms that offer or will soon offer HSA’s include Bank of America, Fidelity Investments, JPMorgan Chase, LaSalle Bank and Wells Fargo.

HSA’s are available to nearly anyone who has a high-deductible health insurance plan. Many employers now offer high-deductible health insurance plans to employees.

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