Insights from the 2025 Congressional Report on HSAs

May 21, 2025

A Fresh Look at Health Savings Accounts

The Congressional Research Service (CRS) has recently updated its 2025 report on Health Savings Accounts (HSAs), a tax-advantaged savings option paired with high-deductible health plans (HDHP). With increasing medical expenses, HSAs offer a valuable way to save and pay for uninsured medical costs like deductibles and copayments. Interestingly, 39% of workers in the private sector, as well as state and local government employees, had access to an HSA through their employer in 2024.

Trends in HSA and HDHP Enrollment

Historically, enrollment in HSA-qualified HDHPs surged from the mid-2000s up until 2020. However, recent data reveals a stabilization trend. By the 2021 tax year, the IRS reported two million tax returns with individual HSA contributions and 12.1 million with employer contributions. The trend up to 2019 showed a faster growth rate in employer contributions. Yet, since 2020, these figures suggest stability in overall enrollment numbers.

Understanding HSA Withdrawals

IRS data shows an increase in nonrollover HSA withdrawals, with 8.8 million returns in 2021 indicating such activities. Of these, 4% involved taxable withdrawals for nonqualified expenses. Factors influencing lower withdrawal rates in 26-34 year-olds include less time to build an HSA balance and fewer healthcare costs. Incomes between $500,000 and $999,999 showed higher withdrawal rates, indicating a correlation between higher income and increased HSA usage.

Addressing Challenges in Data Collection

One of the challenges highlighted by the CRS report is the fragmented nature of data collection for HSA-eligible employees. With HSAs and HDHPs often managed by different entities, comprehensive data is scarce. For instance, when HSAs are established with banks, insurers may lack visibility into the account's activity. This division creates a gap in understanding the breadth of HSA utilization.

Maximizing Employee Benefits

High-deductible health plans and HSAs are effective tools for boosting employee savings for future medical costs. Understanding current utilization and trends allows organizations to tailor their strategies, offering meaningful benefits to employees. Employers should remain attentive to evolving trends and employee needs to enhance their benefits offerings. For further guidance and resources, feel free to reach out to us.

Back-to-School Season and Insurance Protection for Families

July 31, 2026
Back-to-school season brings many changes for families. New routines, new drivers, and sometimes new living situations for college students can all influence insurance needs. For households with teen drivers, reviewing Auto Insurance coverage is especially important. Young drivers may require policy updates or additional coverage adjustments. Families sending children to college may also want to confirm how their Home Insurance policy applies to belongings stored in dorm rooms or off-campus housing. Life transitions often happen quickly during this time of year, which makes it valuable to review policies before the school year begins. Making a few adjustments now can help ensure your family stays protected through the busy months ahead. Prepare your coverage for the school year.

Home Security Technology and Its Impact on Insurance

By Shiela Marie Diaz • June 30, 2026
Smart home technology continues to grow in popularity. Devices like security cameras, smart locks, and water leak sensors help homeowners monitor and protect their property more effectively. Many insurance providers recognize these improvements because they can reduce the likelihood of claims. In some cases, installing security systems may even qualify homeowners for insurance discounts. When evaluating your Home Insurance policy, it can be helpful to mention any security upgrades you’ve made to your home. These details may influence both coverage recommendations and pricing. Beyond potential savings, smart devices can also help homeowners detect problems early—like water leaks or break-ins—before they become major issues. Technology is making home protection smarter, and insurance policies are evolving alongside it. See how your home upgrades may affect your coverage.

Why Life Insurance Is Becoming a Financial Planning Priority

April 30, 2026
More families are recognizing that insurance is not just about emergencies—it’s also about long-term financial planning. In 2026, life insurance is increasingly viewed as a foundational part of protecting a family’s future. Life insurance can help provide financial stability for loved ones by covering expenses such as housing, education, or outstanding debts. It can also support business continuity or estate planning goals. Many people assume life insurance is only necessary for older adults, but younger families often benefit the most from early coverage. Policies tend to be more affordable when purchased earlier in life. Reviewing Life Insurance options can help you understand the different types of coverage available and which may fit your financial priorities. A conversation about protection today can help ensure long-term security for the people who depend on you. Take a step toward financial security for your family.
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Small Business Insurance Trends Every Owner Should Watch in 2026

March 31, 2026
Running a business means managing many different types of risk—from property damage to liability claims. In 2026, business owners are paying closer attention to insurance coverage as operations become more digital and interconnected. Cyber risks, equipment costs, and supply chain disruptions are becoming common concerns for many businesses. Even small companies can face significant financial impact if an unexpected event interrupts operations. That’s why more entrepreneurs are reviewing their Business Insurance policies to make sure they address the realities of modern business environments. Coverage can include protection for property damage, liability claims, lost income during interruptions, and more. The right policy structure helps businesses stay stable even when unexpected events occur. If your business has grown, added employees, or invested in new equipment over the past year, it may be time for an updated coverage review. Support your business with dependable protection.

Home Insurance and Extreme Weather: What Homeowners Should Know

March 9, 2026
Across the country, homeowners are experiencing more frequent severe weather events. Heavy storms, flooding, and extreme temperature swings can all place new stress on homes and property. Because of this, many insurance providers are updating how policies handle weather-related risks. Homeowners should review what their Home Insurance policy actually covers when it comes to storm damage, water damage, and structural repairs. A common misconception is that all water damage is covered. In reality, flooding and certain weather-related issues may require additional protection. Spring is also the ideal time to inspect your home for potential vulnerabilities. Roof damage, aging gutters, and drainage issues can all increase the likelihood of claims during storm season. Insurance works best when prevention and protection go hand in hand. Taking small steps now can reduce risk and ensure your coverage works exactly as expected if something unexpected happens. Protect your home before storm season arrives.

How Rising Auto Repair Costs Are Changing Car Insurance in 2026

February 1, 2026
Auto repair costs have increased significantly over the past few years, and that trend continues into 2026. Advanced vehicle technology—like sensors, cameras, and driver assistance systems—makes cars safer but also more expensive to repair after accidents. Even minor collisions can involve replacing complex electronic components. This means insurance policies must account for higher repair expenses than they did a decade ago. Drivers often assume their policy automatically adjusts for these changes, but that isn’t always the case. Reviewing your Auto Insurance coverage can help confirm that your deductible, liability limits, and comprehensive protection match the real cost of repairs today. Another factor many drivers overlook is uninsured or underinsured motorist coverage. As repair prices climb, accidents involving drivers with limited coverage can leave you financially exposed. Working with a local agency helps ensure you understand your policy options and how they apply to your specific vehicle and driving habits. Make sure your coverage keeps up with today’s vehicles.

Insurance Checkup for the New Year: What to Review in 2026

January 1, 2026
The start of a new year is the perfect time to review your insurance coverage. Many people update their budgets, health goals, and financial plans in January—but insurance is often overlooked. A yearly policy review helps make sure your coverage still fits your life. Major changes like buying a home, starting a business, adding a driver to your household, or increasing the value of your assets can all affect your protection needs. For example, if you recently purchased a vehicle or moved into a new home, your current policies may not fully reflect those changes. Reviewing your Auto Insurance or Home Insurance coverage can help prevent unexpected gaps. Many families are also reevaluating financial protection in 2026 due to rising living costs and increased awareness around financial planning. This makes it a smart time to consider whether Life Insurance should be part of your long-term protection plan. A quick conversation with an insurance professional can help you understand where adjustments might make sense and where you may already be well protected. Start the year with confidence. Review your policies today with the Oak Ridge Insurance team.

Does General Liability Cover Independent Workers?

June 25, 2025
For many business owners, bringing independent contractors on board is a practical choice that brings flexibility and specialized skills. However, it's crucial to understand the liability risks associated with using such workers. A common misconception is that a General Liability (GL) policy offers blanket coverage, but the truth is far more complex. It's essential to recognize the potential risks if contractors don't have their own insurance coverage.

Life Insurance vs. AD&D: Making the Right Choice

June 19, 2025
In today’s uncertain world, financial planning is not just a smart move—it’s essential for protecting your loved ones. One of the key components of a strong financial plan is choosing the right insurance policy. For many, this decision boils down to a choice between life insurance and Accidental Death and Dismemberment (AD&D) insurance, two options that can be confusing at first glance. In this blog, we’ll break down the key differences to help you make an informed choice.

Plan Ahead: Travel Insurance for Summer Adventures

June 18, 2025
Summer travel season is just around the corner, with enticing destinations calling us away from our daily routines into the embrace of exploration and relaxation. Whether you're gearing up for a sun-soaked beach escape, a thrilling mountain adventure, or a culturally rich city break, one aspect of your travel checklist deserves more attention than it often gets: travel insurance. This essential safety net ensures that even with the most passionate planning, your dream vacation can be protected against unexpected curves the journey may throw your way.