Research

Devenir, a national leader in providing investment solutions for HSAs, released the results of its 20th semi-annual health savings account survey and resulting research report. Devenir found that the number of HSAs has grown to now exceed 29 million, holding an estimated $73.5 billion in assets halfway through 2020.

Devenir, as part of our continued monitoring of the health savings account (HSA) marketplace, has been tracking HSA deposit rates. Since our last update, average deposit rates for the top 20 HSA providers in the marketplace have remained fairly steady with only a slight decline for both the one-thousand and ten-thousand dollar balance levels.

Devenir’s quarterly credit union HSA update finds over $1.86 billion in HSA deposits were held in credit unions as of 3/31/2020.

As HSA investment accountholders react to the financial and public health impact of the COVID-19 pandemic, Devenir has observed HSA investors to better understand how the crisis has shaped their investment behavior.

The coronavirus pandemic in the United States forced the Federal Reserve to cut rates close to zero in order to dampen the effect of the virus on the U.S. economy. In this unique time, Devenir has been observing how health savings account (HSA) providers have reacted to the rate cut.