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A summary of the articles included in the September 2026 edition:

  • 2025 Devenir & HSA Council Demographic Survey Findings
  • HSA Participation on the Rise
  • Beyond the One Big Beautiful Bill Act: What’s Next for HSAs and Employee Benefits
  • Average HSA Balances Reach Record High, but Contributions and Investing Remain Limited, New EBRI Research Finds
  • HSA vs. 401k vs. IRA: How Do These Retirement Accounts Stack Up


2025 Devenir & HSA Council Demographic Survey Findings

Devenir and the ABA’s HSA Council released the results of the 6th annual Devenir & HSA Council Demographic Survey and resulting research report. The survey found that the 41.7 million HSAs that existed at the end of 2025 helped cover nearly 62 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, 2025.

“Our 2025 demographic analysis shows that HSA use spans every life stage. Thirty percent of accountholders are in their 30s, while those aged 55 and older have accumulated nearly $75 billion in their accounts. Together, these findings show how HSAs help people manage healthcare costs today while building resources for future healthcare needs,” said Jon Robb, SVP of research and technology at Devenir.

HSA Participation on the Rise

PSCA’s 2026 Health Savings Account Survey shows increased participation as 83% of employees contributed to their accounts in 2025, up from 73.4% in 2024. Despite the growth, only one-quarter of employers position HSAs as part of a long-term retirement savings strategy.

The annual survey of plan sponsors, also underscores the role of savings and investing activity among HSA participants. Average HSA balances reached $6,477 in 2025, while 22% of participants invested their HSA savings, up from 20.3% in 2024 and 18.9% in 2023. Meanwhile, 68.5% of employers now offer HSA investment options, a 12.8% increase from 2022.

Beyond the One Big Beautiful Bill Act: What’s Next for HSAs and Employee Benefits

The One Big Beautiful Bill Act continues to shape the employee benefits world. In a recent episode of the Benefits Buzz podcast, Chris Byrd, WEX health & benefits senior vice president, shared his insights on what has changed since the legislation passed. He discussed key health savings account (HSA) updates, other important employee benefits provisions, the growing interest in ICHRAs, and the trends employers should watch as they plan for the future.

Average HSA Balances Reach Record High, but Contributions and Investing Remain Limited, New EBRI Research Finds

Key findings in the report include:

  • While average balances have increased, average HSA balances remain relatively low. Average year-end HSA balances reached $5,532 in 2024, the highest level recorded in EBRI’s HSA Database and up from $4,747 in 2023. However, average balances remained modest compared with out-of-pocket maximums for HSA-eligible health plans, which were $8,050 for individual coverage and $16,100 for family coverage in 2024. More than 40% of the HSAs in EBRI’s database were opened since 2022.
  • Few accountholders contribute the maximum. Among accountholders who made a contribution, the average employee contribution increased to $2,308 in 2024, while the average employer contribution decreased slightly to $727. After adjusting for inflation, both employer and employee contributions were higher in the 2010s.

HSA vs. 401k vs. IRA: How Do These Retirement Accounts Stack Up

How is your HSA vs. your 401(k) vs. your IRA shaping up for retirement planning? Retirement planning is a lot easier when you imagine what you want it to be like. As Tori Dunlap of Her First $100K said at HSA Day, “I’ve gotten (millennials) to care because I have them picture 65-year-old them.”

Will you retire in Florida, or at a cabin in the woods? The average 65-year-old couple retiring today will need $395,000 to cover healthcare and medical costs in retirement. And even though Medicare helps pay for the healthcare needs of 67 million people, most recipients still spend thousands each year on out-of-pocket expenses. To help you prepare, here is a breakdown of three common retirement accounts: an HSA vs. a 401(k) vs. an IRA.