Employers may be contributing less to health savings accounts, but workers themselves are putting more money than ever into their own tax-free accounts.
A new report by the Employee Benefit Research Institute found that the average amount of money in an HSA increased by 37 percent in 2014, from $1,408 to $1,933. The report also found that account-holders deposit an average of $2,096 to their accounts annually.
HSAs came onto the market a decade ago and are now a big piece of the U.S. health care market. EBRI estimates that there are currently 13.8 million HSAs covering roughly 17 million policyholders and their dependents. The accounts are worth an estimated $24.2 billion.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Dan Cook
Dan Cook is a journalist and communications consultant based in Portland, OR. During his journalism career he has been a reporter and editor for a variety of media companies, including American Lawyer Media, BusinessWeek, Newhouse Newspapers, Knight-Ridder, Time Inc., and Reuters. He specializes in health care and insurance related coverage for BenefitsPRO.
