New Survey: Health Savings Accounts Cover Record Number of Americans in 2022

MINNEAPOLIS (July 13, 2023) – Devenir and the American Bankers Association’s Health Savings Account Council today released the results of the 3rd annual Devenir & HSA Council Demographic Survey and resulting research report. The survey found that the 35.5 million health savings accounts that existed at the end of 2022 helped cover a record number Americans at almost 72 million, a 6.5% increase from 2021.

Survey responses primarily consisted of the top 20 providers in the health savings account market, with all data having been collected for the period ending on December 31st, 2022.

“With nearly 72 million Americans tapping into the benefits of health savings accounts, these accounts are proving to be more than just a supplemental financial tool – they have become a critical element in managing healthcare costs. Serving a diverse range of working Americans, HSAs not only provide essential financial support today but also contribute to securing a healthier future,” said Jon Robb, SVP of research and technology at Devenir.

Key findings from the 2022 Devenir & HSA Council Demographic Survey and resulting research report:

  • Nearly 72 million covered by an HSA. Devenir estimates that as of December 31st, 2022, there were 35.5 million HSAs, covering almost 72 million people, up from 67 million in 2021.
  • Millennials continue to embrace HSAs. Health savings accounts continue to be embraced by younger consumers. About 1 in 5 Americans in their 30s had a health savings account at the end of 2022.
  • Significant HSA savings accumulated by older Americans. Accountholders over the age of 50 had amassed over $56 billion in their accounts at the end of 2022 (a 7% increase from the previous year), with an average balance of $4,642.
  • HSAs broadly used across the income spectrum. 75% of health savings accountholders live in a zip code with a median household income of less than $100,000.

“As the HSA industry’s top score keeper, Devenir reports that a record number of Americans are covered by HSA-qualified plans and that 3 out of 4 households using health savings accounts to pay for current and future healthcare expenses live in a zip code with a median income of 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 helps you save for retirement while also taking care of you while you work. The Devenir/HSA Council study shows that 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

About the American Bankers Association

The American Bankers Association is the voice of the nation’s $23.7 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2.1 million people, safeguard $18.7 trillion in deposits and extend $12.2 trillion in loans.

Eric Remjeske
[email protected]

ABA HSA Council Media Contact
Blair Bernstein
[email protected]