Number of HSAs Exceeds 25 Million
In addition, Devenir found HSA investment assets surpassed the $10 million mark in 2018.
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 Devenir, provider of investment solutions for HSAs.
HSA consumers had accumulated $53.8 billion in their HSAs at the end of 2018, a year over year increase of 19%. Devenir expects this number to grow to $75 billion by the end of 2020. HSA account holders contributed almost $33.7 billion to their accounts in 2018, up 22% from the year before.
For accounts receiving an employer contribution in 2018, the average contribution amount rose to $839 (up from $604 in 2017).
HSA investment assets surpassed the $10 billion mark. Despite strong market headwinds, HSA investment assets reached an estimated $10.2 billion at the end of December, up 23% year-over-year. On average, investment account holders hold a $14,617 total balance (deposit and investment account). Nineteen percent of all HSA assets were in investments as of December 31, 2018.
The survey was carried out in January 2019, and primarily consisted of top 100 HSA providers in the health savings account market. The survey report is here.
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