New Study: Affluent, Less Sick Health Savings Account Users Unlikely To Skip Care

A new study released recently by HSA Bank, a financial institution focusing on providing products and services to people using Health Savings Accounts, addresses some questions about people using high-deductible plans, but raises others. 

HSA Bank surveyed a self-selected population of high-deductible plan users and found they:

o    Were no more likely to skip treatment because of cost than those with other types of health insurance plans

o    Were unlikely to skip preventive care

o    Were slightly more likely to seek a less expensive treatment

While the study is interesting, it does not adequately address some of the major criticisms of HSA plans (i.e., they attract the healthiest and wealthiest).  Specifically:

o    The majority of study participants were very affluent:  One can assume they are somewhat price insensitive when it comes to the cost of medical care.  Given this, one could argue that the study actually tells us very little about the potential for most people with HSAs to skip treatment.

o    Most people in the study were in very good health:  More than 77% of survey respondents said they were in either good or excellent health.  The study population lends support to the belief that HSAs attract the healthiest Americans.  It also weakens the argument that HSA users are unlikely to skip medical care.  If they do not have a major disease or condition, they are less likely to rack up large medical bills.

Overall, this is an interesting study that is useful for anyone following the consumerism debate.  I for one would love to see data on HSA usage by a more economically and medically diverse population.