Health savings accounts – which surpassed 18 million total accounts and held more than $34 billion in assets by mid-year 2016 – are expected to grab a prominent spot in President-elect Donald Trump’s efforts to reform the Affordable Care Act.
But with or without action from Trump or Congressional Republications, account providers predict substantial near-term HSA growth. The HSA investment consultancy Devenir expects the number of accounts to surpass 27 million by the end of 2018, with assets growing to more than $50 billion – projections which were made well before this year’s Presidential election.
Whatever becomes of Republicans’ efforts to repeal the ACA and replace it with more consumer-driven options, brokers must understand which voluntary policies comply with HSAs and qualified high-deductible plans, and which disqualify an HSA account holder from tax-exempt status.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
