Pension & Benefits News Number of HSAs exceeds 25 million
Tuesday, April 9, 2019

Number of HSAs exceeds 25 million

By Pension and Benefits Editorial Staff

The number of health savings accounts (HSAs) grew to 25 million, holding an estimated $53.8 billion in assets at the end of 2018, according to recent research from Devenir. The 2018 Year-End HSA Survey noted that the number of HSA accounts has risen 13 percent from the end of 2017.

The survey found the following:

  • Stable asset growth. HSA consumers had accumulated $53.8 billion in their HSAs at the end of 2018, a year over year increase of 19 percent. Devenir expects this number to grow to $75 billion by the end of 2020.
  • HSA investment assets surpass $10 billion mark. HSA investment assets reached an estimated $10.2 billion at the end of December, up 23 percent year-over-year. On average, investment account holders hold a $14,617 total balance (deposit and investment account).
  • HSA contributions increase. HSA accountholders contributed almost $33.7 billion to their accounts in 2018, up 22 percent from the year before.
  • Increase in employer contributions. For accounts receiving an employer contribution in 2018, the average contribution amount rose to $839 (up from $604 in 2017).

“In a competitive economic environment with low unemployment, we saw employers contribute almost $9 billion to their employees’ HSAs in 2018, a meaningful increase from the previous few years,” said Jon Robb, SVP of research and technology at Devenir.

Devenir projects that, by the end of 2020, the HSA market will approach $75 billion in HSA assets covering roughly 30 million accounts.


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