FSA yearly enrollment steadily increasing
Flexible Spending Account (FSA) enrollment has steadily increased in the last five years. FSA enrollment was at 22.8% in 2013, a recent CDC National Center for Health Statistics study showed. In 2008, FSA enrollment was at 18.7%, so there has been a 4.1% increase in just five years.
In addition to FSA enrollment increasing, Consumer-Driven Health Plans (CDHPs) that let employees have a Health Savings Account (HSA) are also increasingly popular. The report revealed that HSA enrollment increased from 5.2% to 10.9% between 2008 and 2013 for employees under 65 years old. For those enrolled in a High-Deductible Health Plan (HDHP) enrollment increased from 19.2% in 2008 to 32.5% in 2013.
Is your company getting ready for open enrollment? Does your employer offer an FSA? Get more information about FSAs in our FSA Learning Center.