EBRI: Seven findings on HSA utilization

1. Modest balances: Between 2011 and 2019, end-of-year account balances increased but remained low.
2. Contributions below the maximum: Average total contributions increased between 2011 and 2019, but this average was just above the minimum allowable deductible amount for family coverage.
3. High incidence of withdrawals: Overall, 60 percent of accountholders withdrew funds.
4. Low use of investments: Very few account owners invested their HSA balance in investments other than cash despite the tax-saving possibilities.
5. Over time, increased size of balance: Accounts opened in 2019 had an average $1,056 year-end account balance, while accounts opened in 2009 had an average $9,398 year-end account balance.
6. Over time, larger annual contributions: Annual 2019 contributions were higher the longer an account owner had an account.
7. Over time, greater use of investments: Over time, account owners appear to see the value in investing their HSA balances.

Source: EBRI, Trends in Health Savings Account Balances, Contributions, Distributions, and Investments, 2011‒2019
Source URL: https://www.ebri.org/publications/research-publications/issu...

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