Pension & Benefits News HSA assets surpass $17 billion
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Monday, October 5, 2020

HSA assets surpass $17 billion

By Pension and Benefits Editorial Staff

Despite a turbulent start to the first half of the 2020, health savings account (HSA) investment assets increased to an estimated $17.6 billion at the end of June 2020, up 32 percent year-over-year, according to research from Devenir. The 2020 Midyear Devenir HSA Research Report found, on average, investment account holders had a $15,445 total balance (deposits and investments combined).

The survey also found the following:

  • HSA asset growth remains strong. HSA asset growth remained strong, increasing to $73.5 billion in assets held in over 29 million accounts, a year-over-year increase of 19 percent for assets and 12 percent for HSAs for the period ended June 30, 2020.
  • HSA investing accelerates. There are now approximately 1.5 million accounts that are investing a portion of their HSA dollars, representing more than 5 percent of all accounts.
  • HSA contributions continue to rise. Account holders contributed almost $24 billion to their accounts in the first half of 2020, up 7 percent from the year prior.

Devenir currently projects that the HSA market will be approaching 35 million accounts by the end of 2022, holding over $100 billion in assets.

SOURCE: www.devenir.com

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