Sharing the Wealth: Health Savings Accounts Offer Rich Opportunities For Banks

Consumer-directed healthcare is as much about shifting responsibility and cost to consumers as it is respecting their autonomy, and thejury is still out as to which consumers, and to what extent, will benefit from health savings accounts (HSAs). Created in December 2003 as part of the Medicare Modernization Act (MMA), HSAs allow individuals enrolled in high-deductible health plans (HDHPs) to accumulate funds that can be used for health expenses, including those not covered by their health plans, such as dental and vision treatment. What is certain, however, is that the transfer of funds traditionally directed to the payment of insurance premiums into cash accounts presents a potentially huge opportunity for banks.

Sharing the Wealth: Health Savings Accounts Offer Rich Opportunities For Banks
Source: Insurance News Net