HSA Update: Assets in Health Savings Accounts Exceeded $20 Billion in January

Key findings from the Devenir Year-End 2013 HSA Survey:

  • 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).

Comments (13)

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  1. Kirov says:

    Looks like a good thing.

  2. Matthew says:

    This is concrete proof that HSAs are a big hit with consumers.

  3. Thomas says:

    “…it’s clear that ten years after their inception, HSAs are proving to be a valuable solution for healthcare consumers”

    Alternatives to government intervention are always the most valuable solution for healthcare consumers.

  4. Greg P says:

    These facts are undeniable proof that the HSA have significantly improved the quality of health provided to the people. They show that these HSA are a successful alternative to hedge against medical expenses. And they suggest that the government mandate should have been different, instead of requiring everyone to purchase an insurance plan; the government should require everyone to open a HSA. That way the government doesn’t have to incur in the heavy costs of Obamacare, while there would be sufficient funds for the people to receive health treatment.

    • Walter says:

      Just imagine how more efficiently consumers could receive healthcare if we had less insurance and everyone had an HSA. It is such a more viable, cost effective solution.

  5. Peter A says:

    Let’s hope the people from Wall Street don’t start using these HSAs as investments and destroy the whole industry, like they did with the Mortgage Backed Securities and the housing industry in 2008. These HSA are a great alternative, but they have to be regulated and monitored so the big investment banks don’t play with our health.

    • Bill B. says:

      They would grow more widespread until they found any interest in HSAs. Wall Street finds a way though so don’t hold your breath.

  6. Charles T says:

    I think it is wonderful that these HSA have increased in popularity and that they are performing so well. It demonstrates that programs sponsored by private enterprise are much more effective than government mandated reforms. But I have might doubts. Not about the HSA as a mechanism, but the amount of money it’s being held there. Will $11,350 be enough to cover a complicated medical procedure?

  7. Bart I. says:

    I wonder if the exchange plans qualify as high-deductible health plans (HDHPs)? It seems to me that allowing employees to offer HSAs in conjunction with an exchange plan would increase participation in both HSAs and the exchanges.