GAO on HSAs
This article was originally published in The Tan Sheet
Executive Summary
Most participants enrolled in insurance plans eligible for use with Health Savings Accounts were satisfied with their experiences but would not recommend the plans to all consumers, according to focus group studies conducted for a recent report by the Government Accountability Office. Participants said they would recommend HSA-eligible plans to healthy consumers, but not to people who use maintenance medication, have a chronic condition, have children or may not have funds to meet the high deductible, the report finds. GAO conducted the inquiry into "early enrollee experiences" with HSAs at the request of Senate Finance Committee Ranking Member Max Baucus (D-Mont.). Many participants were unsure what medical expenses qualified for payment using their HSAs, GAO finds...