Enrollment in health savings accounts is surging as more employers are moving to consumer-driven health care plans, according to Fidelity Investments.
Fidelity said April 11 that the number of HSAs it administered in 2011 jumped to 119,000, up 61 percent compared with 74,000 in 2010, its greatest annual increase.
HSAs "are the most cost-effective alternative for employers and employees," said William Applegate, a Fidelity Investments vp in Boston.
A survey by Mercer L.L.C. found that the cost of medical coverage through a CDHP linked to an HSA averaged $7,787 per employee in 2011. That's about 20 percent less than the average of $9,385 per employee for medical coverage through a preferred provider organization.