Whoa! HSA Assets Leap Past $50 Billion

401k, retirement, HSA, health savings accounts

Employers are largely responsible.

Health Savings Account (HSA) assets have passed the $50 billion-mark sooner than expected, reaching an estimated $51.4 billion across more than 23 million accounts as of June.

In 2016, HSA experts Devenir predicted assets would exceed the $50 billion mark by the end of 2018. The research and investment solutions firm now anticipates continued growth amounting to $54 billion by the end of the fourth quarter, according to its midyear assessment.

Results of the Devenir 2018 Midyear Survey were based on survey data collected from the top 100 HSA providers in the market.

Key findings of the report included:

“We have seen continual consumer adoption of HSAs and it’s exciting to see that collectively, account holders have saved over $50 billion for their future healthcare expenses,” Jon Robb, senior vice president of research and technology at Devenir, said in a statement.

Looking forward, the firm predicts the market will move toward $75 billion in assets spanning more than 29 million investor accounts by the end of 2020.

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