As health care costs continue to rise, employers are turning to alternatives to keep expenses in check. And interest in high-deductible health plans keeps growing, despite concerns that such plans can lead people to avoid medical care and possibly lead to more expensive bills down the road. According to updated information from the Bureau of Labor Statistics, 45% of private-sector employers offered an HDHP in 2018, up from 24% in 2010. Not surprisingly, this has also corresponded to an increase in the availability of health savings accounts (HSAs). In 2019, 30% of all private employers offered an HSA, with large employers more likely to do so than smaller employers (47% compared to 18%). In addition, access varies by income level (48% among the highest 25% of wage-earners in 2019, compared to 13% among the lowest). Related: HDHPs hit those in rural areas hardest Another area on the rise? Deductibles. While the median deductible for an HDHP in 2018 was $2,000, some plans had deductibles as high as $5,000. The increasing burden of deductibles in recent years has caused some health care industry advocates to decry the development of a growing number of "functionally uninsured" Americans. Still, when paired with health care education, savings strategies and other tools, HDHPs can be an effective option for employees. "Whether an HDHP will save participants money depends on a variety of factors," the BLS noted. "The increased availability of HDHPs and HSAs provides employers and employees with additional flexibility to manage the cost of health care." Read more: |

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