HSA assets hit $92.9 billion through first half

Halfway through 2021, assets in health savings accounts totaled $92.9 billion, a year-over-year increase of 26%, according to a study by Devenir, a Minneapolis-based HSA specialist.

The study found that almost $24 billion was contributed to health savings accounts during the first half of the year and that there are now more than 31 million HSAs, up 6% over the same year-over-year period.

[More: HSAs, an adviser favorite, just don’t get much love]

The survey data, collected mostly in July from the top 100 providers in the HSA market, all reflect the period ending June 30, Devenir said in a release.

During the first half, HSA account holders withdrew more $16 billion from their accounts, down 1% from the withdrawals during the same period in 2020.

More investing is occurring in the accounts, according to the study, with almost 2 million accounts, more than 6% of the total, investing some of the money in the account.

Devenir currently expects that by the end of 2023, there will be more than 36 million HSAs holding over $131 billion in assets.

[More: HSAs keep growing, but employer support lags, report finds]

The post HSA assets hit $92.9 billion through first half appeared first on InvestmentNews.

Andrew is half-human, half-gamer. He’s also a science fiction author writing for BleeBot.

Andrew Vincent
Andrew is half-human, half-gamer. He's also a science fiction author writing for BleeBot.
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