Health savings account assets achieved a record last year of $123.3 billion, up 18.6% from the previous record of $104 billion in 2022, according to an annual survey by Devenir Group, an HSA research firm and investment consultant.
The investment component of the HSA assets rose to $46.4 billion, up 37.3% from the $33.8 billion in 2022, thanks to a strong stock market, according to a March 26 report describing the survey results.
Investments - as opposed to deposits - accounted for 44.6% of total HSA assets in 2023, according to Devenir, which conducted a survey in January of the 100 largest providers of HSAs. Survey responses are self-reported by the providers.
The number of HSA accounts reached 37.4 million last year, up 5% from 2022. Devenir also reported that about 2.9 million HSAs have "at least a portion of their HSA dollars invested” compared to almost 2.6 million accounts in 2022.