2021
Health Savings Account Survey

Survey

HSA Survey


Employer Adoption, by HSA Plan Size

<25 accounts
76%
25 – 49 accounts
8%
50 – 99 accounts
5%
100 – 499 accounts
7%
≥500
4%

HSAs by Account Balance

<$500
42%
$500 – $1,000
12%
>$1,000 – $2,500
16%
>$2,500 – $5,000
12%
>$5,000 – $10,000
9%
>$10,000
9%

HSA Account Activity in 2020

% of HSAs receiving any contributions
75%
% of HSAs having non-rollover withdrawals
56%
% of HSAs having no contributions or withdrawals
16%


Respondent Profile


Respondents by Employee Count

<50
26%
50 – 99
10%
100 – 249
13%
250 – 499
12%
500 – 999
6%
1,000 – 4,999
16%
≥5,000
17%
Unsure / don't know
0%

Respondents by Industry

Financial services
24%
Manufacturing
16%
Professional services
14%
Nonprofit organization
14%
Health care
7%
Distribution / wholesale
5%
Technology / telecommunications
4%
Government
3%
Retail
3%
Utilities
3%
Other industries
16%


HSA Access


Insurance Options Offered During 2021 Open Enrollment

Preferred provider organization (PPO)
71%
High-deductible health plan (HDHP)
70%
Health maintenance organization (HMO)
24%
Exclusive provider organization (EPO)
10%
Point of service (POS)
9%
Other health plan
1%
None
2%

Number of Health Insurance Options Offered

  • 1
  • 2
  • >3


HSA Adoption


Employees Enrolling in HDHP Plan When Multiple Options Are Offered

>90%
9%
>75% – 90%
12%
>50% – 75%
23%
>25% – 50%
26%
10% – 25%
11%
<10%
15%
Unsure / don't know
4%

Automatically Opens HSA Accounts for Employees (When Eligible)?

  • Yes
  • No
  • Unsure / don't know

% of Employees That Opened an HSA (When Eligible, Excluding Automatic Enrollment)

>90%
37%
>75% – 90%
23%
>50% – 75%
16%
>25% – 50%
8%
10% – 25%
4%
<10%
2%
Unsure / don't know
10%


HSA Design


Importance of HSA Features When Selecting an HSA Provider

Debit card56%
HSA plan fees (paid by employer)40%
Reputation of HSA administrator39%
HSA account fees (paid by employees)38%
Fiduciary / regulatory support37%
Quality / availability of investment options30%
Enrollment materials / support28%
Post-enrollment education materials22%
Bundling of benefits and health administration20%
Mobile app15%
Bundling of retirement and HSA administration8%
Interest rates offered on cash deposits7%

Access to Investment Options (Other Than Cash) in HSA Accounts?

  • Yes
  • No
  • Unsure / don't know

Offers Employer Contributions to HSA Accounts?

  • Yes
  • No
  • Unsure / don't know

Frequency of Employer Contributions

Annually
37%
Semi-annually
8%
Quarterly
14%
Monthly
6%
Each pay period
33%
Other
2%

How Employer Contributions Are Credited to Employee Accounts

Fixed dollar amount
83%
Matching contribution
10%
Other
7%