By Pension and Benefits Editorial Staff
Average health savings account (HSA) balances increased from $1,990 in 2011 to $2,803 in 2018, according to recent research from the Employee Benefit Research Institute (EBRI). The study, Trends in Health Savings Account Balances, Contributions, Distributions, and Investments, 2011â€’2018: Estimates From the EBRI HSA Database, examines data from 9.8 million accounts with total assets of $22.8 billion as of December 31, 2018. EBRI noted that in 2018, enrollment in HSA-eligible health plans was estimated to be between 23 and 36.8 million policyholders and their dependents.
Average total contributions—combined individual and employer contributions—increased from $2,348 to $2,919 between 2011 and 2018. However, this average was just above the minimum allowable deductible amount for family coverage, and less than one-half the allowable contribution maximum for family coverage.
Overall, 59 percent of HSA holders made withdrawals. The average annual amount distributed was $1,865 in 2018, implying an average rollover of $1,054, according to the study. In addition, only 6 percent invested their HSA balance in investments other than cash despite the tax-saving possibilities.
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