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A summary of the articles included in the August 2025 edition:

  • 2024 Devenir & HSA Council Demographic Survey Findings
  • Fidelity Investments® Releases 2025 Retiree Health Care Cost Estimate, a Timely Reminder for All Generations to Begin Planning
  • Trump’s ‘Big Beautiful’ Bill Expands Access to This ‘Powerful, Yet Underutilized’ Financial Tool
  • Health Savings Accounts: Providing High-Quality Coverage to Nearly 39 Million People
  • Can Your Employer Claw Back a Mistaken Excess Contribution? Maybe. In Part.
  • Weighing the Pros and Cons of HSAs


2024 Devenir & HSA Council Demographic Survey Findings

  • Over 59 million Americans covered by an HSA
  • Millennial accountholders remain a significant segment of HSA growth
  • Older accountholders demonstrate strong HSA asset accumulation
  • HSAs exhibit broad socioeconomic adoption

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.

Fidelity Investments® Releases 2025 Retiree Health Care Cost Estimate, a Timely Reminder for All Generations to Begin Planning

Fidelity Investments shared its 24th annual Retiree Health Care Cost Estimate, revealing that a 65-year-old retiring in 2025 can expect to spend an average of $172,500 in health care and medical expenses throughout retirement. This represents a more than 4% increase over 2024 and continues the general upward trajectory of projected health-related expenses since Fidelity’s inaugural $80,000 estimate in 2002.

This year’s estimate comes as Americans’ confidence in their retirement prospects has slightly decreased and a record-number begin their final stretch to reaching the traditional retirement age of 65. Of concern, recent Fidelity research shows 1-in-5 Americans say they have never considered health care needs during retirement—a figure that rises to one-in-four among Gen X. More so, across all generations, 17% have taken no action at all when it comes to planning for health expenses in retirement.

Trump’s ‘Big Beautiful’ Bill Expands Access to This ‘Powerful, Yet Underutilized’ Financial Tool

Next year, more Americans will have access to a powerful financial tool.

Embedded in President Donald Trump’s sweeping budget bill are three provisions that expand access to health savings accounts — the tax-advantaged accounts available to those enrolled in a high-deductible health plan.

Generally, to qualify for an HSA, you have to be enrolled in an high-deductible plan — for 2025, that means one with a deductible of at least $1,650 for individuals or $3,300 for families. You can’t have any disqualifying health-care coverage, be enrolled in Medicare or be claimed as a dependent on someone else’s tax return, among other requirements.

Under the new bill, three kinds of people will become eligible for an HSA for whom rules had previously been either murky or prohibitive.

Health Savings Accounts: Providing High-Quality Coverage to Nearly 39 Million People

A new nationwide survey finds that a growing number of Americans are choosing to enroll in health savings account (HSA)-eligible health plans. Today, HSAs provide peace of mind to 38.8 million beneficiaries while allowing individuals and families flexibility and freedom to directly control their health care dollars.

The survey, conducted by AHIP, found that health insurance plans are empowering HSA members with more tools to make affordable health care choices. These tools allow members to obtain important information about their health conditions, the quality and costs of health services in their area, access wellness resources, and navigate provider networks.

Can Your Employer Claw Back a Mistaken Excess Contribution? Maybe. In Part.

Question: My employer gives us a $2,250 (self-only) or $4,500 (family) lump-sum Health Savings Account contribution at the beginning of the year. I have self-only coverage, but I received $4,500 in error. Can my employer request that its Health Savings Account provider correct the error and return the $2,250?

Answer: Yes. Your employer can request that the provider correct the error. But it’s a little more complicated.

In most cases, Health Savings Account contributions vest immediately. This is one of the exceptions. Your employer can correct the error, but only partially. The company can request that the provider return no more than the portion of the mistake above the statutory maximum annual contribution for your contract type.

The maximum contribution for your contract type is $4,300 in 2025. Therefore, your employer can recover no more than the amount of the mistaken contribution above $4,300, or $150 in 2025.

Weighing the Pros and Cons of HSAs

When health savings accounts (HSAs) took effect more than 20 years ago, some initially thought HSAs would not be used by rank-and-file employees and would be used only by executives.

“That has not proven true,” said Chris Keller, an attorney with Groom Law Group in Washington, D.C. “Financially savvy employees of all income levels have figured out that HSAs are an excellent vehicle for saving money for future medical expenses.”

HSAs are a benefit that employers and employees should learn about to decide if they are right for their organizations or themselves, she added. Here are some pros and cons of HSAs for employees and benefits administrators.