2013 Midyear Devenir HSA Research Report

The majority of this report was derived from the Midyear 2013 Devenir HSA Market Survey. This survey was conducted in order to continue to help shed light on the rapidly growing and evolving health savings account market. The survey was carried out in July, 2013 and primarily consisted of top 50 HSA providers in the health savings account market. All data was requested for the period ending on June 30th, 2013.

All estimates and projections reflect the current environment surrounding health savings accounts and are barring any regulatory changes to the market.

Certain data points from the survey were omitted from this report due to inconclusive data or incomplete sample set. All statistics are produced using the best available data set, which may at times leave certain statistics not reconciling with others both within this report and with previous reports.

Survey responses were self-reported by each HSA provider. Devenir attempts to verify responses when possible through a variety of channels including but not limited to press releases, annual reports, prior research, and FDIC filings.

Key Findings

  • Convincing account and asset growth. HSAs continue to see strong growth as the total number of HSA accounts rose to nearly 9.1 million with assets totaling almost $18.1 billion, a year over year increase of 29% for both accounts and assets for the period of June 30th, 2012 to June 30th, 2013.
  • Average account balance continues gradual growth. The average account balance halfway through 2013 grew to $1,981 from $1,879 at the end 2012, over a 5% increase. When you eliminate identified zero balance accounts that average rises to $2,228, an almost 2.8% year over year increase.
  • HSA contributions rise sharply. Total contributions to HSA accounts from June 2012 to June 2013 are estimated to have reached $16.7 billion, with accountholders retaining about 23% of those contributions.
  • HSA investment dollars see steady growth. HSA investment assets almost reached an estimated $2 billion in June, up 14% from the end of 2012 and 26% year over year. The average investment account holder has a $10,484 average total balance (deposit and investment account).

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