Health savings accounts (HSAs) were born in 2003. How have they evolved into the popular health care plan they are today, and what direction could they go in the future?
HSAs were signed into law in 2003 to provide consumers a new way to save and pay for health care spending. As a new type of health care plan, it was initially difficult for consumers to fully comprehend what they were about, but as more employers began adopting these plans and as consumers have continued to enroll in them, their popularity has continued to soar. HSAs have seen 11% year-over-year account growth and currently are worth $51 billion in assets.
We've put together a great illustrated guide that shows more about HSAs today, how they became as popular as they are, and where they could go in the future.