Consumer Misconceptions About HSAs

About half of Americans claim that they understand Health Savings Accounts according to the survey taken by LIMRA Secure Retirement Institute. Emily Payne of Benefits Pro writes that despite this confidence, many consumers have misconceptions.





A few of these misconceptions include:

• 49 percent of consumers who state they are very knowledgeable on HSAs believe they must spend the entire HSA balance by the end of the year. 
• Only 39 percent of all consumers understand the difference between an HSA and a flexible spending account. 

To learn more findings from this survey, please click HERE! 

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