Making investments within HSAs is growing, but researchers and advocates say providers and sponsors must do more to accelerate the pace.
Total assets of health savings accounts reached $92.9 billion as of June 30, with investments accounting for an estimated $30.4 billion.
Most employers that offer investment options for health savings accounts require a balance of $1,000 or more before participants can invest.
As HSAs take on greater investing opportunities, providers are employing strategies designed to overcome some restrictions.
HSA providers and DC record keepers are trying many strategies to encourage participants to use HSAs as an investment source.
Record keepers are signing deals with HSA providers to incorporate health care into their expanded financial wellness programs.
Expanding health savings account allocations won't automatically improve participation, research shows.
HSA assets rose 20% to $51.4 billion for the year ended June 30, with an estimated $9.8 billion of that representing investment assets.
Employers are providing monetary contributions and other incentives to encourage greater HSA balances.