2022 Devenir & HSA Council Demographic Survey
Key Findings
Nearly 72 million covered by an HSA.
Devenir estimates that as of December 31st, 2022, there were 35.5 million HSAs, covering almost 72 million people.
Significant HSA savings accumulated by older Americans.
Accountholders over the age of 50 had amassed over $56 billion in their accounts at the end of 2022 (a 7% increase from the previous year), with an average balance of $4,642.
Millennials continue to embrace HSAs.
Health savings accounts continue to be embraced by younger consumers. About 1 in 5 Americans in their 30s had a health savings account at the end of 2022.
HSAs broadly used across the income spectrum.
75% of health savings accountholders live in a zip code with a median household income of less than $100,000.
Age Demographics of Accountholders
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Source: Devenir Research
Source: Devenir Research
29%
of health savings accountholders are in their 30s
30%
of HSA assets are held by accountholders aged 55 to 64 years old
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Breakdown of total HSA contributions and withdrawals in 2022 (on a dollar basis) by age group.HSAs by State
Estimated People Covered by an HSA by State
Health Savings Accountholder Median Household Income
75%
of health savings accountholders live in a zip code with a median household income of less than $100,000
Report Methodology
The majority of this report was derived from the 2022 Devenir & HSA Council Demographic Survey. Survey responses primarily consisted of top 20 providers in the health savings account market. All data was requested for the period ending on December 31st, 2022.
Survey responses are self-reported by each HSA provider. When possible, Devenir attempts to verify responses through a variety of channels, including but not limited to press releases, annual reports, and prior HSA research.
About Devenir
Devenir is a national leader in providing customized investment solutions for HSAs and the consumer directed health care market. When health savings accounts first emerged in 2004, Devenir built its expertise around delivering cutting-edge investment solutions. As the consumer driven health care industry grew, so did Devenir's reputation as a leading researcher and award-winning investment consultant. Today, Devenir continues to lead the way in the rapidly growing HSA market. A research driven perspective makes Devenir the go-to investment advisor, HSA investment platform and consultant to employers, banks, third party administrators, health plans, and technology providers. Learn more at devenir.com.
Devenir Research Team
- Jon Robb — Senior Vice President, Research & Technology
- Eric Remjeske — President
- Blake Jouwstra, CFA — Investment Analyst
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