Devenir 2010 HSA Survey

MINNEAPOLIS – Health Savings Accounts (HSAs) surpassed $10 Billion at year-end 2010 according to a survey and the resulting research report conducted by Devenir, an investment firm that specializes in providing investment options for HSAs.

The survey data was collected in January, 2011 and primarily consisted of top 30 custodians in the health savings account market. All data was requested for the calendar 2010 year, ending on Dec 31st, 2010. “The survey was conducted in order to help shed light on the rapidly growing and evolving health savings account market”, says Eric Remjeske President and Co-Founder of Devenir.

Key Findings from the Devenir 2010 survey and research report:

  • Rapid growth. HSAs continue to see dramatic growth as the total number of HSA accounts rose to 6.2 million with assets totaling almost $10.1 billion, a year over year increase of 27% for accounts and a 41% increase in assets.
  • Largest custodians hold significant market share. The top 5 custodians hold over $4.4 billion in HSA assets amongst almost 2.7 million accounts, accounting for 44% of all HSA assets.
  • Average account balance grows. The average account balance grew almost 11% in 2010 to $1,627.
  • HSA investment dollars continue to grow. HSA investment assets reached an estimated $725 million in 2010 (102% year over year increase), and are projected to reach $10.3 billion by end of 2015.

“The industry has experienced tremendous growth and is likely to continue growing at this pace” according to Jon Robb, Lead Research Associate with Devenir, “however, when looking back at a number of HSA market reports dating back to 2005-2007, almost always the conservative 2010 projections were the most accurate.” Taking this into consideration, Devenir conservatively projects the HSA market to reach $61 billion in assets by the end of 2015, a 43% CAGR over the next five years. Devenir also projects that HSA investment dollars will continue to grow quickly as health savings account user’s balances become larger, representing 17% of all HSA assets by the end of 2015.

Forward-looking statements are based on current expectations and assumptions based on historical growth, the economy and other future conditions and forecasts of future events, circumstances, and results. As with any projection or forecast, they are inherently susceptible to uncertainty and changes in circumstances.

About Devenir

Devenir is a full-service investment firm based in Minneapolis and is a national leader in providing customized investment solutions to the HSA marketplace. As an independent investment firm, Devenir offers a host of investment options to suit the unique needs of employers, banks, credit unions, third party administrators and plan participants. Devenir designs and implements convenient, user-friendly and cost-effective investment platforms by integrating quality investment choices with streamlined administrative functions. This approach allows any bank, credit union or third party administrator to attach a robust back-end investment process to most health benefit plans or IRAs.


Eric Remjeske, 952-345-0300
[email protected]