WSJ: Are HSAs the New 401(k)? Money Managers Hope So

The HSAs are a key feature that accompanies these stripped-down plans. The market for the accounts has doubled since 2012 to end last year with $30.2 billion in assets, according to new data from Devenir Research, an independent investment advisor and consultant. The industry is projected to double in size again by the end of 2018 to $55 billion, Devenir says.

The number of HSA accounts rose 22% to 16.7 million over the past year, Devenir says. That means, for the first time, the number of Americans with HSAs surpassed the 14.7 million current private-sector workers with a traditional pension.

Some asset managers view the HSA market as an opportunity akin to breaking into the 401(k) space in the early 1980s, when it was only a fraction of its current $6.5 trillion size, said Eric Remjeske, Devenir president.