Health savings accounts held nearly $174 billion across 41.7 million accounts by the end of 2025, with total assets rising 19% year over year and the number of accounts growing 6%, according to a new report by HSA investment solution provider Devenir.
Investment adoption was a major driver of growth, Devenir said. HSA investment assets reached nearly $85 billion, up 33% from a year earlier. Approximately 4.2 million accounts, or about 10% of all HSAs, held invested dollars at year-end. Nearly half of all HSA assets (49%) are currently held in investments.
The number of HSAs with at least $10,000 reached 4.1 million at the end of 2025, while 1.7 million accounts held more than $25,000. Employer-affiliated HSAs made up 61% of all accounts and 65% of total HSA assets.
