HSA Assets Surpass $15B

January 29, 2013 (PLANSPONSOR.com) – Health savings accounts (HSAs) have grown to an estimated $15.5 billion in assets representing more than 8.2 million accounts at year-end 2012.

According to the 5th semi-annual Health Savings Accounts survey conducted by Devenir and the resulting research report, this is a year-over-year increase of more than 22% for accounts and a 27% increase in assets.   

The average account balance at the end of 2012 grew to $1,879 from $1,807 at the end 2011, a 4% increase. When you eliminate identified zero balance accounts that average rises to $2,283, a 7% year-over-year increase.   

Total contributions to HSA accounts are estimated to have reached $13.2 billion in 2012, with account holders retaining about 23% of those contributions. HSA investment assets reached an estimated $1.7 billion in 2012, a 55% increase since the end of 2011. The average investment account holder has an $8,918 average total balance (deposit and investment account), almost four times the average account holder balance.   

Devenir projects the HSA market may reach $26 billion in assets by the end of 2015, with HSA investment dollars growing rapidly and representing nearly 21% of all HSA assets by the end of 2015.   

The Executive Summary of Devenir’s report is here.