- A 1999 Government Accounting Office report pegged the number of Medical Savings Accounts nationally at 100,000, with 33% of those accounts representing individuals who previously were uninsured.
- Current limitations include a ceiling of 750,000 MSAs nationwide; exclusion of businesses with more than 50 employees; minimum deductibles of $1,600 for individuals and $3,200 for families; a cap on maximum annual deposits at 65% and 75% of those deductibles, respectively; a ban on contributions by both employee and employer in a single year.
- Although Medicare MSAs were authorized to begin Jan. 1, 1999, no carrier offered one. A study by the Medicare Payment Advisory Commission, Congress' adviser on Medicare payment issues, found "no compelling reason" to pursue the option, which failed to garner takers because of the "risk-averse Medicare beneficiary population" and expensive marketing of "a complex product to a fragmented and scarce set of customers."
- Otherwise unchanged when extended, MSAs are now referred to as "Archer MSAs," in honor of former Rep. William Archer (R-Texas), who stumped for the legislation.
Source: MSAver Resources
MSAs at a glance
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