The majority of this report was derived from the 2019 Year-End Devenir HSA Market Survey. This survey was conducted to shed light on the rapidly growing and evolving health savings account market. The survey was carried out in January 2020, and primarily consisted of top 100 providers in the health savings account market. All data was requested for the period ending on December 31st, 2019.
Key Findings
- HSA asset growth accelerates. Health savings account growth accelerated in 2019, jumping to almost $66 billion in assets held in over 28 million accounts, a year-over-year increase of 23% for assets and 13% for health savings accounts for the period ended December 31st, 2019.
- HSA investment asset growth continues. Strong market tailwinds continued, as HSA investment asset growth surged to an estimated $15.7 billion at the end of December, up 54% year-over-year. On average, investment account holders hold a $16,012 total balance (deposits and investments combined).
- More HSAs investing. There are now approximately 1.2 million accounts that are investing a portion of their HSA dollars, representing more than 4% of all accounts.
- HSA contributions continue to rise. Account holders contributed over $38 billion to their accounts in 2019, up 14% from the year prior.
Devenir projects that, by the end of 2020, the HSA market will exceed $77 billion in HSA assets held by over 30 million accounts.
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