Steady account and asset growth. HSA accounts rose to 10.7
million accounts, holding assets totaling $19.3 billion, a year over
year increase of 25% for HSA assets and 30% for accounts for the
period of December 31st, 2012 to December 31st, 2013.
More providers offering HSAs. In 2013 over 2,200 banks and
credit unions offered health savings accounts.
HSA contributions continue to rise. Total contributions to HSA
accounts from December 2012 to December 2013 were estimated to be
$16.4 billion, with accountholders retaining about 24% of those
contributions after distributions for medical expenses.
HSA investment dollars grow with help from strong market. HSA
investment assets reached an estimated $2.3 billion in December, up
30% from the end of 2012. The average investment account holder has an
$11,350 average total balance (deposit and investment account).
According to the 7th semi-annual Health Savings Accounts
(HSAs) survey and resulting research report conducted by Devenir, HSAs
have grown to an estimated $19.3 billion in assets and 10.7 million
accounts at year-end 2013 and have grown to well over $20 billion in
assets during the month of January.
The survey data was collected between January and February of 2014 and
primarily consisted of top 50 HSA providers in the health savings
account market, with all data being collected for the December 31st,
2013 period as well as top line data for January 2014 month end. “HSAs
continue to grow as Americans increasingly see that the HSA based
defined contribution approach to healthcare is the best way to curb
healthcare cost inflation,” says Eric Remjeske, President and Co-Founder
Key findings from the Devenir Year-End 2013 HSA Survey and resulting
“With both HSA accounts and assets increasing at a rapid rate, it’s
clear that ten years after their inception, HSAs are proving to be a
valuable solution for healthcare consumers,” says Jon Robb, Vice
President of Research at Devenir. Devenir projects that by the end of
2014 the HSA market will likely approach $24 billion in HSA assets
covering more than 13 million accounts.
here to view the Executive Summary on Devenir’s Site
Projections derived from Devenir Year-End 2013 HSA survey, press
releases, previous market research, and market growth rates.Projections
are barring any regulatory or market environment changes.
Forward-looking statements are based on current expectations and
assumptions based on historical growth, the economy, other future
conditions and forecasts of future events, circumstances and results.
Devenir, based in Minneapolis, is a national
leader in providing customized investment solutions to the HSA custodian
marketplace. As an HSA industry leading investment firm, Devenir offers
a host of investment options to suit the unique needs of employers,
banks, third party administrators and plan participants. www.devenir.com
Eric Remjeske, 952-345-0300