Health savings account assets rose to $73.5 billion for the period ended June 30, a 19% increase vs. the year-ago period, Devenir Group, Minneapolis, an HSA researcher and investment consultant, said Tuesday.
"Despite a turbulent start to the first half of 2020," the amount of invested assets within HSAs reached an estimated $17.6 billion as of June 30, up 32% from a year ago, the firm said in a midyear report based on a survey of HSA providers.
Investments now account for 24% of all HSA assets, the same percentage as Dec. 31, the report said.
For all of 2020, Devenir predicts total assets will grow to $77.8 million, a projected 18% increase from year-end 2019. Also for year-end 2020, invested assets are expected to reach $20.1 billion, or 26% of total HSA assets. If the Devenir prediction holds true, invested assets will have increased 28% over year-end 2019's results.
The number of HSA accounts rose to 29.3 million as of June 30, up 3.5% from the 28.3 million at Dec. 31, 2019.
"Approximately 1.5 million accounts are investing a portion of their HSA dollars, representing more than 5% of all accounts," the report said.
The Devenir survey, conducted in July, covers the 100 largest HSA providers; the information is self-reported by the providers.