HSA Competitive Landscape: Redrawing the Battle Lines

A period of change will challenge all stakeholders to be aware of the threats and pursue opportunities.

Boston, March 18, 2021 – The competitive landscape of health savings accounts has seen a dynamic period of change and expansion in the last two years as financial advisors, retirement planners, life insurers, and other financial institutions have started to step into the HSA market. In doing so, they are not only raising the visibility of these accounts but also redrawing old borders and claiming land away from traditional players.

This report reviews stakeholders active in HSAs, explores their legacy orientation, and lays out their strengths, weaknesses, opportunities, and threats. It is based on Q2 and Q3 2020 Aite Group interviews with 58 executives who hold senior management, marketing, customer relations, strategy, and development roles at health plans, technology platforms, TPAs, financial advisors and retirement planners, benefit brokers, and bank and nonbank custodians.

This 48-page Impact Report contains 15 figures and 13 tables. Clients of Aite Group’s Wealth Management, Health Insurance, or Life Insurance service can download this report, the corresponding charts, and the Executive Impact Deck.

This report mentions AccessPoint HSA, ADP, Aetna (CVS Health), Alegeus, Alerus Retirement, Alliant Insurance Services, Amazon, Ameriflex, Anthem, AON/Mercer, Apple, Associated Bank, Bank of America, BASIC Online, Bend Financial, Benefit Advantage (TASC), Benefit Resource, Benefit Strategies, BenefitWallet, BlueCross BlueShield, Centene, Ceridian, Choice Financial, Cigna, Comerica, Conduent, Conexis, ConnectYourCare, Connexus, DataPath, Devenir, Dimensional Fund, Discovery Benefits, Empower, Express Scripts, Fidelity, Fifth Third Bank, Flexible Benefit Administrators, Flores & Associates, Further (Select Account), Arthur J. Gallagher Co., Guardian Life (WageWorks/HealthEquity), Harland Clarke, HealthEquity, HealthSavings Administrators, HSA Authority, HSA Bank, Humana, Jellyvision, John Hancock, Lively, Marsh McLennan, MassMutual, Merrill Lynch, MetLife, Minnesota TPA ABG Group (Alerus Retirement), Molina Health, NueSynergy, Old National Bank, Optum Financial, PayFlex (Aetna/CVS Health), PNC Bank, Schwab, Sentinel Benefits & Financial Group, Starship HSA, Sterling Administration, Tango Health (WageWorks/HealthEquity), TASC, ThrivePass, TIAA, Transamerica, T. Rowe Price, UMB Bank, UnitedHealthcare, UnitedHealth Group, Unum, US Bank, USI Insurance Services, Vanguard, Webster Bank, Wells Fargo, WageWorks, WEX, Willis Towers Watson (Acclaris), Workday, and Zenefits.

Related Content

Get Summary Report

"*" indicates required fields

This field is for validation purposes and should be left unchanged.