HSA-based health insurance plans combine individually owned savings accounts with traditional major medical insurance. HSAs give individuals the opportunity to use tax-free funds to pay day-to-day medical bills and to save for future health care expenses.
Under the new law, HSAs are required to be established in combination with insurance coverage through a qualifying high deductible health plan. Federal regulations announced last week responded to employees' concerns that preventive care and disease prevention programs be allowed without counting toward deductible requirements set out in the legislation.
Ignagni said the survey shows many consumers lack detailed information about how these new plans actually work. However, once people have information about HSAs, they generally react positively to the opportunity to play a more active role in seeking health care coverage, she said.
The survey also found that: