Health savings account assets expanded significantly in 2024 in part because of favorable stock market conditions, according to a new report by HSA investment solution provider Devenir. HSA assets reached nearly $147 billion across more than 39 million accounts, reflecting a year-over-year increase of 19% for assets and 5% for accounts.
Devenir also found that HSA investment assets increased by 38%, reaching $64 billion by the end of 2024. The number of HSA holders choosing to invest also rose with approximately 3.5 million HSAs, representing about 9% of all accounts, investing a portion of their HSA dollars.
Account holders contributed almost $56 billion to their accounts in 2024, up 11% from the previous year, according to the report. They withdrew $42 billion during the same period, up 10% from the prior year. The average total balance for HSA investment accounts was $22,032.
