2020 Midyear Devenir HSA Research Report

The majority of this report was derived from the 2020 Midyear Devenir HSA Market Survey. This survey was conducted to shed light on the rapidly growing and evolving health savings account market. The survey was carried out in July 2020, and primarily consisted of top 100 providers in the health savings account market. All data was requested for the period ending on June 30th, 2020.

Key Findings

  • HSA asset growth remains strong. Health savings account asset growth remained strong, increasing to $73.5 billion in assets held in over 29 million accounts, a year-over-year increase of 19% for assets and 12% for health savings accounts for the period ended June 30th, 2020.
  • HSA investment asset growth continues. Despite a turbulent start to the first half of 2020, HSA investment assets increased to an estimated $17.6 billion at the end of June, up 32% year-over-year. On average, investment account holders hold a $15,445 total balance (deposits and investments combined).
  • HSA investing accelerates. There are now approximately 1.5 million accounts that are investing a portion of their HSA dollars, representing more than 5% of all accounts.
  • HSA contributions continue to rise. Account holders contributed almost $24 billion to their accounts in the first half of 2020, up 7% from the year prior.

Devenir currently projects that the HSA market will be approaching 35 million accounts by the end of 2022, holding over $100 billion in assets.


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