HSA administration is more scalable than the management of flexible savings accounts, as HSA administrators can dedicate fewer resources such personnel and hardware. (Photo: Shutterstock)
As the explosive growth of health savings accounts continues, third-party administrators are considering whether it's worth it to offer HSA management services, according to a DataPath white paper, “How TPAs Can Overcome Potential Pitfalls to Deliver a Unified HSA Experience and Maximize Earnings.”
Since 2005, the number of HSA accounts has more than tripled, and is projected to reach 27.5 million accounts by the end of 2019, according to the 2017 Year-End HSA Market Statistics & Trends Executive Summary, Devenir Research. Still, many TPAs remain cautious about offering HSA management services for a variety of reasons, including whether or not the endeavor can be profitable.
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Katie Kuehner-Hebert
Katie Kuehner-Hebert is a freelance writer based in Running Springs, Calif. She has more than three decades of journalism experience, with particular expertise in employee benefits and other human resource topics.
