The majority of this report was derived from the Year-End 2013 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, 2014 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, 2013.
Key Findings
- HSA accounts exceed 10 million. HSA accounts rose to 10.7 million, holding assets totaling over $19.3 billion, a year over year increase of 25% for HSA assets and 30% for accounts for the period of December 31st, 2012 to December 31st, 2013.
- Account balances continue stable growth.The average funded HSA account balance at the end of 2013 was $2,356 from $2,283 at the end 2012, a 3.2% increase
- More providers offering HSAs. In 2013 there were over 2,200 banks and credit unions offering health savings accounts.
- Employers drive growth. Direct employer relationships are the largest driver of new HSA accounts, accounting for 38% of all new HSA accounts in 2013
- HSA investment dollars grow with help from strong market. HSA investment assets almost reached an estimated $2.3 billion in December, up 30% from the end of 2012. The average investment account holder has an $11,350 average total balance (deposit and investment account).
- Robust January growth. The January Supplement Survey found that HSAs grew to well over $20 billion in assets during the month of January.