Research

HSA deposit rates are showing signs of cooling after sustained growth throughout 2023-24, with $50,000 balances dropping from 0.63% to 0.61% between September and December 2024. This shift aligns with the Federal Reserve's more accommodative monetary policy, as the Effective Federal Funds Rate decreased from 5.33% in the summer of 2023 to 4.33% at the end of 2024. Learn how these changes impact HSA providers, employers, and account holders in today's evolving economic landscape.

Our 2024 Midyear HSA Research Report reveals a continuing trend of market concentration. The top 5 largest HSA providers now hold 73% of the industry's total assets.

As we enter the final quarter of 2024, Health Savings Account (HSA) interest rates have modestly increased across all balance tiers. As of September 30th, the average rate for $1,000 balances rose to 0.45%, up from 0.44% in June. Despite a declining federal funds rate to 4.83%, HSA rates continue to climb, showing providers' commitment to offering competitive interest. The rate spread between $1,000 and $50,000 balances remains steady at 18 basis points.

Findings from the 2024 Midyear Devenir HSA Research Report containing Health Savings Account (HSA) market statistics and insights as of June 30th, 2024.

Devenir released the results of its 28th semi-annual Health Savings Account (HSA) survey and resulting research report. Devenir found that there is about $137 billion saved in almost 38 million HSAs at the midyear point of 2024.