New report provides an HSA market forecast through 2023 and guidance for HSA providers, bank and nonbank custodians, TPAs, and technology platforms
The COVID-19 pandemic served as a wake-up call to employers. While pandemic-related interruptions in the employer benefits market caused growth rates to stumble in 2020, 2021 and 2022 have been a time of recovering from that stumble as employers regained their footing. As part of an employer’s financial wellness toolkit, HSAs have emphasized employee well-being, supporting financial wellness, providing emergency savings, and encouraging good mental health practices.
In a new Impact Report, HSAs Turn 18: Market Forecast, research and advisory firm Aite-Novarica Group provides an HSA market forecast through 2023, and discusses new and abandoned accounts, contributions and distributions from said accounts, invested assets, and payment methods.
“New account openings defined the first 18 years of HSAs,” said Inci Kaya, Strategic Advisor at Aite-Novarica Group and author of the new report. “Going forward, the assets in those accounts will matter as much as, if not more than, new accounts, particularly for retirement planners.”
A preview of the report is available online, and desk copies are available to qualified media. Please contact [email protected] or call Kaitlyn Labbe at +1.857.327.9442 for more information.
About Aite-Novarica Group:
Aite-Novarica Group is an advisory firm providing mission-critical insights on technology, regulations, strategy, and operations to hundreds of banks, insurers, payments providers, and investment firms—as well as the technology and service providers that support them. Comprising former senior technology, strategy, and operations executives as well as experienced researchers and consultants, our experts provide actionable advice to our client base, leveraging deep insights developed via our extensive network of clients and other industry contacts. Visit us on the web and connect with us on Twitter and LinkedIn.