Open Enrollment Opens the Door to HSA Growth (Blog Post)

Whitepaper Icon Open Enrollment Opens the Door to HSA Growth (Blog Post)

Originally posted on

Guest post written by Dennis Zuehlke, Compliance Manager, Ascensus

It’s open enrollment time and employees across the country are choosing their health care plans for next year. For credit unions offering health savings accounts (HSAs), this opens the door to HSA growth. This year alone could see a record increase in the number of HSAs as a result of changes implemented by the Patient Protection and Affordable Care Act (PPACA).

Most employees are very familiar with open enrollment, and in recent years, have come to expect higher premiums, deductibles, and out-of-pocket expenses. As businesses continue to struggle with the rising cost of health care, more and more are switching to consumer-directed health plans (CDHPs) that pair a high deductible health plan (HDHP) with an HSA or health reimbursement account (HRA). According to an analysis of the Mercer National Survey of Employer Sponsored Health Plans, commissioned by the American Association of Preferred Provider Organizations (AAPPO), 36 percent of large employers and 22 percent of small employers offered CDHPs in 2012, up from 32 percent and 20 percent respectively in 2011.

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