A Report on HSA Balances and Contributions

The Employee Benefit Research Institute (EBRI) released its HSA Database on 1.5 million accounts with total assets of $2.7 billion as of December 31, 2013. The following are EBRI’s findings:
• Enrollment in HSA-eligible health plans is estimated to range from 15.5 million to 20.4 million policyholders and their dependents. Estimates are that there are 10.7 million accounts holding $19.3 billion in assets as of Dec. 31, 2013. Seventy percent of HSAs have been opened since 2011.
• The average HSA balance was $1,766 at the end of 2013, up from $1,280 at the beginning of the year. Average account balances increased with the age of the owner of the account. Account balances averaged $697 for owners under age 25 and $4,460 for owners ages 65 and older.
• HSAs with individual or employer contributions accounted for 69% of accounts and 87% of assets. Six percent of these accounts ended the year with a zero balance.
• Individuals who made contributions deposited an average of $2,032 to their account. HSAs receiving employer contributions received $1,184, on average.
• Four-fifths of HSAs with a contribution also had a distribution for a health care claim during 2013.
• Among HSAs with claims, the average amount distributed for health care claims was $1,953.
• Distributions for health care claims increased with age, with the exception of those ages 65 and older. Average annual distributions were $667 for account owners under age 25, $2,335 for account owners ages 55 to 64, and $2,017 for account owners ages 65 and older. Average annual distributions were higher for older accounts. However, the likelihood of taking a distribution for health care claims was higher among newer accounts.
• HSAs are likely to keep growing. Thirty percent of larger employers are expected to offer an HSA-eligible health plan or HRA as the only plan option by 2015.

Last Updated 09/22/2021

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