Health Savings Accounts (HSAs) surpassed $10 Billion at year-end 2010, according to a survey by Devenir, an investment firm that specializes in providing investment options for HSAs. HSAs continue to see dramatic growth as the total number of HSA accounts rose to 6.2 million with assets totaling almost $10.1 billion, a year over year increase of 27% for accounts and a 41% increase in assets.
Jon Robb, lead research associate with Devenir said, “The industry has experienced tremendous growth and is likely to continue growing at this pace.” However, when looking back at a number of HSA market reports dating back 2005 to 2007, almost always the conservative 2010 projections were the most accurate. Taking this into consideration, Devenir conservatively projects the HSA market to reach $61 billion in assets by the end of 2015. Devenir also projects that HSA investment dollars will continue to grow quickly as health savings account user’s balances become larger, representing 17% of all HSA assets by the end of 2015.
The top five custodians hold over $4.4 billion in HSA assets amongst almost 2.7 million accounts, accounting for 44% of all HSA assets. The average account balance grew almost 11% in 2010 to $1,627. HSA investment assets reached $725 million in 2010 (102% year over year increase) and are projected to reach $10.3 billion by end of 2015. For more information, visit www.devenir.com.
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