FSA growth has slowed, and utilization has dropped, as many Americans have put off elective or non-critical health care treatments. (Photo: Shutterstock) A new market forecast for health benefit accounts (HBAs) looks at the economic uncertainty created by the COVID-19 pandemic and finds that although growth trends have slowed for plans like HRAs and FSAs, there may be opportunities opening up with new models of HBAs.
"The COVID-19 pandemic and the ensuing wave of regulations and unemployment have hit the reset button on health insurance and HBAs," the report said. "The abrupt change in the robust employment environment, now turned on its head, has put new accounts on ice and hastened the search for alternative benefits and health plan options."
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