HSAs Turn 18: Market Forecast

In a time of uncertainty and recovery, HSAs turn 18 with plenty of promise and a subtle but sustained growth outlook.  

May 5, 2022 –TheCOVID-19 pandemic interrupted the employer benefits market, causing growth rates to stumble in 2020. But the pandemic also served as a wake-up call to employers. It emphasized employee well-being through services that support financial wellness, provide emergency savings, or encourage good mental health practices. Health savings accounts are part of that financial wellness toolkit. Their tax advantages, portability, and flexible nature allow account holders to spend, save, or invest funds.

This report provides an HSA market forecast through 2023, and discusses new and abandoned accounts, contributions and distributions from said accounts, invested assets, and payment methods. This report is based on Aite-Novarica Group interviews from Q3 2021 through Q1 2022 with U.S. executives across health plans, payments processors, technology platform providers, bank and nonbank custodians, and third-party administrators who hold roles in senior management, marketing, customer relations, strategy, and development.

This 31-page Impact Report contains 11 figures and four tables. Clients of Aite-Novarica Group’s Healthcare Payments service can download this report and the corresponding charts.

This report mentions Benefit Strategies, ConnectYourCare, Further, HealthEquity, HealthSavings Administrators, Optum Financial, and VOYA.

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