Health savings account assets reached nearly $159 billion across roughly 40 million accounts at the halfway point of 2025, according to a new report by HSA investment solution provider Devenir. Total assets grew 16% year-over-year while total accounts grew 6%.
Investment balances benefited from strong market returns and growing recognition of HSAs’ long-term advantages, Devenir said. At midyear 2025, investment assets rose to nearly $73 billion, a 30% year-over-year increase. About 4 million HSAs, roughly 10% of all accounts, held at least some of their dollars in investments. The number of investing accounts was up 23% year-over-year.
Contributions to HSAs totaled more than $33 billion and withdrawals totaled almost $23 billion. Devenir projected that the HSA market will surpass 47 million accounts and exceed $208 billion in total assets by the end of 2027.
