2012 Year-End Devenir HSA Research Report Executive Summary

The majority of this report was derived from the Year-End Devenir HSA Market Survey. This survey was conducted in order to continue to help shed light on the rapidly growing and evolving health savings account market. The survey was carried out in January, 2013 and primarily consisted of top 50 HSA providers in the health savings account market. All data was requested for the period ending on December 31st, 2012.

All estimates and projections reflect the current environment surrounding health savings accounts and are barring any regulatory changes to the market.

Certain data points from the survey were omitted from this report due to inconclusive data or incomplete sample set. All statistics are produced using the best available data set, which may at times leave certain statistics not reconciling with others both within this report and with previous reports.

Survey responses were self-reported by each HSA provider. Devenir attempts to verify responses when possible through a variety of channels including but not limited to press releases, annual reports, prior research, and FDIC filings.

Key Findings

  • Compelling account and asset growth. HSAs continue to see strong growth as the total number of HSA accounts rose to nearly 8.2 million with assets totaling nearly $15.5 billion, a year over year increase of almost 22% for accounts and a 27% increase in assets for the period from December 31st, 2011 to December 31st, 2012.
  • Average account balance steadily grows. 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.
  • HSA contributions exceed $13 billion in 2012. Total contributions to HSA accounts are estimated to almost have reached $13.2 billion in 2012, with accountholders retaining about 23% of those contributions.
  • HSA investment growth accelerates. HSA investment assets reached an estimated $1.7 billion in December, up 55% from the end of 2011. The average investment account holder has an $8,918 average total balance (deposit and investment account).
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