The Number of Health Savings Accounts Exceeds 25 Million

MINNEAPOLIS — Devenir, a national leader in providing investment solutions for health savings accounts (HSAs), released today the results of its 17th semi-annual health savings account survey and resulting research report. Devenir found that the number of HSAs grew to 25 million, holding an estimated $53.8 billion in assets at the end of 2018.

HSA Industry Assets

The survey data was collected in February of 2019 and primarily consisted of top 100 HSA providers in the health savings account market, with all data being collected for the period ending on December 31st, 2018.

Key findings from the Devenir 2018 Year-End HSA Survey and resulting research report:

  • HSA accounts exceed 25 million. The total number of HSAs grew to 25 million at the end of 2018, up 13% from a year ago.
  • Stable asset growth. 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 investment assets surpass $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).
  • HSA contributions jump. HSA account holders contributed almost $33.7 billion to their accounts in 2018, up 22% from the year before.
  • Increase in employer contributions. For accounts receiving an employer contribution in 2018, the average contribution amount rose to $839 (up from $604 in 2017).

“In a competitive economic environment with low unemployment, we saw employers contribute almost $9 billion to their employees’ HSAs in 2018, a meaningful increase from the previous few years,” said Jon Robb, SVP of research and technology at Devenir.

Devenir projects that, by the end of 2020, the HSA market will approach $75 billion in HSA assets covering roughly 30 million accounts.

Click here to view the Executive Summary

Projections derived from 2018 Year-End Devenir HSA survey, press releases, previous market research, and market growth rates. Projections are barring any regulatory or market environment changes.

Forward-looking statements are based on current expectations and assumptions based on historical growth, the economy, other future conditions and forecasts of future events, circumstances and results.

About Devenir

Devenir is a national leader in providing customized investment solutions for HSAs and the consumer directed health care market. When health savings accounts first emerged in 2004, Devenir built its expertise around delivering cutting-edge investment solutions. As the consumer driven health care industry grew, so did Devenir’s reputation as a leading researcher and award-winning investment consultant. Today, Devenir continues to lead the way in the rapidly growing HSA market. A research driven perspective makes Devenir the go-to investment advisor, HSA investment platform and consultant to employers, banks, third party administrators, health plans and technology providers. Learn more at devenir.com

Contact
Devenir
Eric Remjeske
952-446-7400
research@devenir.com