One area that saw an increase in HSA spending? Chiropractic services–likely due to more Americans working remotely. (Photo: Shutterstock)
A new report on the use of health spending accounts (HSAs) noted the serious impact on the accounts caused by the COVID-19 pandemic in 2020. A decline in many kinds of medical visits and higher spending for prescription drugs were two of the major trends of the year, but the report noted—with caution—that health spending may revert to more normal patterns this year.
The HSA Spend Report, issued by Lively, tracked where and how consumers spent their health care dollars in 2020. The HSA company collected data from 50,000 account holders in the U.S. The researchers noted that one ongoing element remained constant—the cost of health insurance continued to increase in 2020.
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