2021 Devenir & HSA Council Demographic Survey Findings

MINNEAPOLIS (July 11, 2022) – Devenir and the American Bankers Association’s Health Savings Account Council released the results of the 2nd annual Devenir & HSA Council Demographic Survey and resulting research report. The survey found that the 32.5 million health savings accounts that existed at the end of 2021 helped cover an estimated 67 million Americans.

The survey data was primarily collected in April of 2022 and largely consisted of top 20 providers in the health savings account market, with all data being collected for the period ending on December 31st, 2021.

“Over one third of privately insured American’s have access to a health savings account and we continue to see that HSAs are being utilized by a broad spectrum of working Americans to help cover healthcare expenses both today and in the future,” said Jon Robb, SVP of research and technology at Devenir.

Key findings from the 2021 Devenir & HSA Council Demographic Survey and resulting research report:

  • Over 67 million covered by an HSA.  Devenir estimates that the 32.5 million health savings accounts as of December 31st, 2021 helped cover 67 million people.
  • Millennials embrace HSAs.  Younger consumers have embraced health savings accounts, with about 1 in 5 Americans in their 30s having an HSA.
  • Older Americans continue to accumulate meaningful HSA savings.  Accountholders older than 50 years old held almost $53 billion in their accounts at the end of 2021 (up 19% from the year prior), with an average balance of $4,758.
  • HSAs utilized across income spectrum.  78% of health savings accountholders have a household income of less than $100,000.

“Devenir is the HSA industry’s top score keeper, and their findings show that almost 4 out of 5 households using health savings accounts to pay for current and future healthcare expenses earn less than $100,000 per year,” said Kevin McKechnie, ABA HSA Council Executive Director. “An HSA plan is the only health insurance product in America that help’s you save for retirement while taking care of you while you work. More and more Americans are switching to Health Savings Accounts with their future in mind.”


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.

About the American Bankers Association

The American Bankers Association is the voice of the nation’s $24 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $19.9 trillion in deposits and extend $11.4 trillion in loans.

Eric Remjeske
[email protected]

ABA HSA Council Media Contact
Blair Bernstein
[email protected]