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Aetna Study Shows CDHPs Can Save Money

A recent study released by Aetna has demonstrated that people participating in a health savings account (HSA) visit their primary care physicians 15 percent less than average for non-routine visits. They were also shown to have medical costs that were a total of 10 percent less than that of traditional plans.

With HSAs, funds deposited into these accounts are tax-deductible, and the funds can also roll over from one year to the next if they are not spent. Withdrawals from these accounts to pay for qualified medical expenses are tax-free.

HSAs are usually one component of a consumer-directed health plan or CDHP. As part of a CDHP, the HSA is usually used in conjunction with high-deductible health insurance. This insurance exists to protect individuals against sudden catastrophic healthcare costs. Alternatively, the money withdrawn from the HSA is used to pay for more regular, routine healthcare expenses.

The benefits of utilizing CDHP plans with HSAs are not limited to reducing the number of visits made to primary care physicians. The same study also suggests that HSA participants are more directly involved in their own healthcare. They were 250 percent more likely to research health conditions on the internet to become more educated on their health. HSA participants were also 300 percent more likely to take health assessments than people enrolled in traditional plans.

Individuals with HSAs were also shown to focus more on preventive care. Screenings by HSA users for diabetes and cancers, such as breast cancer and cervical cancer, were much higher. HSA users also saved money by visiting the emergency room far less and using generic drugs more often than name brand medications.

HSAs under a CDHP also provide benefits to employers as well. Over a period of five years, employers that only offered CDHP options to their employees, saved $18 million dollars per ten thousand members enrolled in the plans.

Whether it is employers who offer them or the employees who use them, HSA plans can save a significant amount of money over more traditional healthcare options.