SOURCE: Information Strategies, Inc.

June 12, 2007 13:18 ET

HSA Penetration Reaches 5% but Varies by State, ISI Study Shows

RIDGEFIELD, NJ--(Marketwire - June 12, 2007) - Health Savings Accounts (HSAs) have had varying levels of adoption when taken on a state-by-state but are approaching 5% of all healthcare insurance users on a nation-wide basis, according to an analysis by Information Strategies, Inc. (ISI).

The company's analysts reviewed data from all 50 states, surveys this year of more then 5,000 healthcare insurance users, reports from 2,900 firms and other information sources in its creation of a detailed national map. (www.hsafinder.com/map/usamap.shtml).

Among the states with the highest penetration, 5-7% are Wisconsin, Texas, Georgia, Florida, Illinois, Ohio, Tennessee and Kentucky.

Amongst the lowest with penetration levels below 2% are New York, New Jersey, Rhode Island, Hawaii and Vermont.

"Clearly, there are states that have welcomed HSAs and others that are still fighting consumer directed healthcare offerings," said JoAnn Laing, ISI's President & CEO.

"We made our estimates based on research with individuals and firms offering HSAs as well as thousands of respondents to our ongoing surveys, more than 22,000 who have answered questionnaires or participated in focus groups since the inception of HSAs," she added.

"In some states, the regulatory bodies have made it easier to offer HSAs while in others, such as New Jersey, the insurance commission has not moved as quickly," she added.

Laing also reported that some insurance providers have shared their data with ISI and others have not. The company's team of experts was able to utilize this overlay with other data to build what it thinks is a comprehensive look at HSA penetration.

The complete study in the form of a map showing each state's projected penetration as of May 1, 2007 is available at www.hsafinder.com/map/usamap.shtml.

Information Strategies, Inc. focuses on providing information on and to the healthcare and small- and medium-size business arenas. Further, ISI advises corporations on how to sell into these marketplaces and provides original content to more than four million corporate executives, SMB owners and consumers through a series of online newsletters and communities.

Contact Information

  • Contact:
    Donald Mazzella
    Information Strategies, Inc.
    201-242-0600
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