The majority of this report was derived from the 2016 Midyear Devenir HSA Market Survey. This survey was conducted in order to continue to help shed light on the rapidly growing and evolving health savings account market. The survey was carried out in July, 2016 and primarily consisted of top 100 HSA providers in the health savings account market. All data was requested for the period ending on June 30th, 2016.
Key Findings
- HSA assets surpass $34 billion threshold. The number of HSA accounts rose to 18.2 million, holding over $34.7 billion in assets, a year over year increase of 22% for HSA assets and 25% for accounts for the period of June 30th, 2015 to June 30th, 2016.
- HSA investments continue to grow. HSA investment assets reached an estimated $4.7 billion in June, up 23% year over year. The average investment account holder has a $15,092 total balance (deposit and investment account).
- Health plans remain the largest driver of account growth. Health plan partnerships continued as the leading driver of new account growth, accounting for 37% of new accounts opened so far in 2016.
Devenir currently projects that by the end of 2018 the HSA market will exceed $50 billion in HSA assets held among over 27 million accounts.
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