Report: Health savings account assets reached $116 billion in mid-2023

Health saving account assets experienced strong growth during the first half of 2023, reaching $116 billion in almost 36 million accounts by the end of June, a year-over-year increase of 17% for assets and 6% for accounts, according to new research by Devenir. The firm projects that the HSA market will exceed 40 million accounts by the end of 2025, holding more than $150 billion in assets.

The average total balance—deposits and investments combined—for HSA investment was $18,362, according to Devenir. Account holders contributed $29 billion to their accounts in the first half of 2023, up 11% from a year prior. They withdrew $21 billion from their accounts during the same period, up 16% from a year prior.