MINNEAPOLIS (July 28, 2025) – Devenir and the American Bankers Association’s Health Savings Account Council released the results of the 5th annual Devenir & HSA Council Demographic Survey and resulting research report. The survey found that the 39.3 million Health Savings Accounts that existed at the end of 2024 helped cover over 59.3 million Americans.

Survey responses were collected primarily from leading HSA providers, representing a substantial majority of industry accounts. All data reflect account status as of December 31, 2024.

“Our 2024 demographic analysis shows that HSA adoption spans all life stages. Millennials represent approximately 30 percent of holders, those aged 55 and older now hold $63 billion in assets, and Gen X and younger Boomers continue to be significant contributors. These findings confirm that HSAs are versatile tools for managing healthcare expenses and saving across different career and retirement stages,” said Jon Robb, SVP of research and technology at Devenir.

Key findings from the 2024 Devenir & HSA Council Demographic Survey and resulting research report:

  • Over 59 million Americans covered by an HSA. Devenir estimates that as of December 31, 2024, there were 39.3 million HSAs, collectively providing coverage for approximately 59.3 million people.
  • Millennial accountholders remain a significant segment of HSA growth. By the end of 2024, approximately 30% of all health savings accounts were held by individuals in their 30s.
  • Older accountholders demonstrate strong HSA asset accumulation. Accountholders aged 55+ had accumulated over $63 billion in their accounts at the end of 2024 (a 21% increase from the previous year). The average HSA balance for this age group reached $6,564.
  • HSAs exhibit broad socioeconomic adoption. 64% of health savings accountholders live in zip codes with median household incomes below $100,000.

“Devenir’s 2024 findings show that Health Savings Account adoption remains strong, especially for working Americans with nearly seven out of 10 households that use HSAs to pay for current and future healthcare expenses earning less than $100,000 per year,” said Kevin McKechnie, ABA HSA Council Executive Director. “Our hope is that Congress will allow older Americans on Medicare, veterans and other populations access to the only health insurance product that helps you save for retirement while taking care of you as you work. Almost 60 million Americans use HSAs now and we believe that number will only continue to grow in the years ahead.”

Click here to view the report

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.

About the American Bankers Association
The American Bankers Association is the voice of the nation’s $24.5 trillion banking industry, which is composed of small, regional and large banks that together employ approximately 2.1 million people, safeguard $19.5 trillion in deposits and extend $12.8 trillion in loans

Contacts
Devenir
Eric Remjeske
[email protected]

ABA HSA Council Media Contact
Blair Bernstein
[email protected]