Nearly 72 million Americans were covered by health savings accounts at the end of 2022, an increase of 6.5% from the year before, according to a new survey by Devenir and the American Bankers Association’s Health Savings Account Council. The survey found that Americans were covered by 35.5 million HSAs in 2022. Twenty-nine percent of accountholders are in their 30s, covering about one in five U.S. adults in that age range.
Thirty percent of HSAs are held by accountholders ages 55 to 64, according to the survey. Accountholders over the age of 50 had amassed more than $56 billion in their accounts at the end of 2022—a 7% increase from the previous year—with an average balance of $4,642. The survey also found that HSAs are used across the income spectrum, with 75% of accountholders living in a zip code with a median household income of less than $100,000.