Who funds their health savings account and why?

  • Song Chen
  • Anthony T. Lo Sasso
  • Aneesh Nandam


Health savings account (HSA) enrollment has increased markedly in the last several years, but little is known about the factors affecting account funding decisions. We use a unique data set containing from a bank that exclusively services HSA funds linked to health status, benefit design, plan coverage, and enrollee characteristics from a very large national health insurance company to examine the factors associated with HSA contribution. We found that even small employer contributions had an apparently large effect on the decision to open an account: the account-opening rate was 50 % higher when employers contributed to the account. Conditional on opening an HSA, employee contributions were negatively associated with the amount of employer contribution, contributions rose with age, income, education, and health care need.


High deductible health insurance Consumer driven health insurance  Health insurance benefit design 


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Copyright information

© Springer Science+Business Media New York 2013

Authors and Affiliations

  • Song Chen
    • 1
  • Anthony T. Lo Sasso
    • 2
  • Aneesh Nandam
    • 3
  1. 1.UnitedHealth GroupMinnetonkaUSA
  2. 2.Division of Health Policy and Administration, School of Public HealthUniversity of Illinois at ChicagoChicagoUSA
  3. 3.Icahn School of Medicine at Mount SinaiNew YorkUSA

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