Health Savings Accounts Reach $18.1 Billion in June

<0> Health Savings Accounts Reach $18.1 Billion in June </0>

<0> DevenirEric Remjeske, 952-345-0300 </0>

According to the 6 semi-annual Health Savings Accounts (HSAs) survey and resulting research report conducted by Devenir, HSAs have grown to an estimated $18.1 billion in assets representing over 9.1 million accounts at midyear 2013.

The survey data was collected in July 2013 and primarily consisted of the top 50 HSA providers in the health savings account market, with all data being collected for the June 30, 2013 period. “We are encouraged by the trend we see in large company adoption of consumer driven HSA qualified health plans and the company contributions to their employee HSAs,” says Eric Remjeske, President and Co-Founder of Devenir.

Key findings from the Devenir Midyear 2013 HSA survey and research report:

“Both employers and employees contributed record amounts to HSAs over the last year, with large employers in particular making significant contributions to their employee’s HSA accounts in an effort to help drive adoption,” said Jon Robb, Vice President of Research at Devenir. Devenir projects that by the end of 2013 the HSA market will likely approach $20 billion in HSA assets held amongst 10+ million accounts. HSA investment dollars are projected to grow rapidly as the balances of HSA users become larger, with estimates of current investment assets doubling by the end of 2015.

Devenir, based in Minneapolis, is a national leader in providing customized investment solutions to the HSA custodian marketplace. As an HSA industry leading investment firm, Devenir offers a host of investment options to suit the unique needs of employers, banks, third party administrators and plan participants.

Suggested Articles

Rebates for Part D drugs grew from 2011 to 2015 but not enough to offset price spikes, a study found.

Medicare Advantage plans still have time to meet their year-end goals.

A recent digital health conference highlighted the ongoing obstacles to using next-generation technology to impact health outcomes.