Total assets of health savings accounts reached $92.9 billion as of June 30, with investments accounting for an estimated $30.4 billion, according to a midyear report by Devenir Group, an HSA researcher and investment consultant.
The total asset gain represented a 26% increase for the 12 months ended June 30. Investment assets climbed 73% during the same period.
The asset increase was "fueled by continued strong market gains," said the report posted on Devenir's website Sept. 16. "There are now almost two million accounts that are investing a portion of their HSA dollars, representing over 6% of all accounts."
Overall, HSA account growth slowed last year and in the first half of 2020 due to the COVID-19 pandemic, the report said. Total accounts were 31.1 million for the first half of 2021 vs. 30.2 million for all of 2020 and 29.3 million for all of 2019, the report said.
Devenir predicted overall HSA assets would grow to $97.5 billion by year-end 2021, up 18.6% from year-end 2020. The firm predicted HSA investment assets would rise to $32.6 billion by year-end 2021, up 37% from year-end 2020.
The survey was conducted primarily in July and "largely consisted of top 100 providers in the health savings account market," the report said. Survey responses were self-reported by each HSA provider.