The majority of this report was derived from the 2016 Year-End 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 January, 2017 and primarily consisted of top 100 HSA providers in the health savings account market. All data was requested for the period ending on December 31st, 2016.
HSA accounts now exceed 20 million. The number of HSA accounts rose to 20 million, holding almost $37 billion in assets, a year over year increase of 22% for HSA assets and 20% for accounts for the period of December 31st, 2015 to December 31st, 2016.
HSA investments see continued growth. HSA investment assets reached an estimated $5.5 billion in December, up 29% year over year. The average investment account holder has a $14,971 average 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 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.
HSAs have skyrocketed to an estimated $37 billion in assets and 20 million accounts at year-end 2016 and have grown to over $41 billion in assets during the month of January, according to the latest report from leading HSA investment advisor and consultant, Devenir.
This represents an astounding year-over-year increase of 22% for HSA assets and 20% for accounts for the period of December 31, 2015, to December 31, 2016.
Other key findings from the report include:
Health plan partnerships were the leading driver of new account growth for HSA providers, accounting for 37% of new accounts.
HSA investment assets reached an estimated $5.5 billion in December, up 29% year over year. The average investment account holder has a $14,971 average total balance (deposit and investment account).
By the end of 2018, the HSA market will likely exceed $50 billion in HSA assets covering over 27 million accounts, per Devenir projections.