HSAs surpass $33 billion

HSAs have grown to an estimated $30.2 billion in assets and 16.7 million accounts at year-end 2015, according to recent research from Devenir. The 2015 Year-End HSA Survey also noted that HSAs have grown to over $33 billion in assets during the month of January.

The survey data was collected between January and February of 2016 and primarily consisted of top 100 HSA providers in the health savings account market. “With over 16 million health savings accounts holding over $33 billion dollars at the end of January, consumers are generating meaningful savings for future healthcare expenses” said Jon Robb, Senior Vice President of Research at Devenir.

The survey found the following:

HSA accounts exceed 16 million. The number of HSA accounts rose to 16.7 million, holding almost $30.2 billion in assets, a year over year increase of 25 percent for HSA assets and 22 percent for accounts for the period of December 31, 2014 to December 31, 2015.

Health plans remain as largest driver of growth. During 2015, health plans were the leading driver of new account growth, accounting for 36 percent of new accounts.

HSA investments continue to grow. HSA investment assets reached an estimated $4.2 billion in December, up 33 percent year over year. The average investment account holder has a $14,035 average total balance (deposit and investment account).

“We continue to see steady growth in the adoption of HSAs as a helpful tool for managing today’s health care expenses as well as utilizing their HSA as a longer term investment vehicle” says Eric Remjeske, President and Co-Founder of Devenir.

Devenir projects that by the end of 2018 the HSA market will likely exceed $50 billion in HSA assets covering almost 30 million accounts.

SOURCE: http://www.devenir.com/devenirWP/wp-content/uploads/2015-Year-End-Devenir-HSA-Market-Research-Report-Executive-Summary.pdf

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