The COVID-19 Pandemic’s Impact on the Health Benefit Account Industry

The full extent of the COVID-19 pandemic’s impact on the health benefit account market remains to be seen.

Boston, May 27, 2020 –HSAs are the crown jewel of the U.S. health benefit account portfolio, yet these products are not top of mind to employers right now. This is not to discount the product’s value; rather, it illustrates the magnitude of decisions HR departments are grappling with, including staffing plans, compensation decisions, and broader cost-cutting decisions tied to benefits and beyond. While most of these decisions can be tied back to HSAs in some fashion, the topic of HSAs is falling under the radar.

As market uncertainty remains a constant, this report is designed to provide a snapshot of near-term trends and to point out longer-term challenges or areas of opportunity. It is based on April 2020 interviews with 25 human resources executives in the U.S. across small businesses, and middle-market and large-market employers: health benefit brokers and benefit administrators.

This 24-page Impact Report contains three figures and six tables. Clients of Aite Group’s Health Insurance service can download this report, the corresponding charts, and the Executive Impact Deck.

This report mentions Aetna (a CVS Health company), Alegeus, Amazon, Anthem, BCBS, Bend Financial, Cigna, Discovery Benefits, FinFit,, Harland Clarke, Home Depot, HSA Gateway,, Humana, Instacart, Kroger, Lowe’s, TASC, Target, United Health Group, U.S. Department of Labor, Walmart, and WEX.

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