The number of health savings account (HSA) accounts rose to 16.7 million, holding nearly $30.2 billion in assets, a year over year increase of 25% for HSA assets and 22% for accounts for the period of December 31, 2014 to December 31, 2015, according to data from Devenir.
Nearly one-quarter (24%) of accounts at year-end were unfunded, compared to 10% at mid-year 2015. Devenir says health plans remain the largest driver of growth for HSAs; during 2015 health plans accounted for 36% of new accounts.
HSA investments also continue to grow. HSA investment assets reached an estimated $4.2 billion as of December 2015, up 33% year over year. The average investment account holder has a $14,035 average total balance (deposit and investment account).
Devenir projects that by the end of 2018, the HSA market will likely exceed $50 billion in HSA assets covering almost 30 million accounts.
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