The Double-Digit Annual Growth Market
Devenir, an investment solutions company for Health Savings Accounts (HSAs), released a survey, which showed HSAs have grown to an estimated $34.7 billion in assets and 18.2 million accounts for the period ending June 30, 2016. Even more, the popularity of HSAs has increased substantially over the past decade. As of 2014, 17.4 million people were enrolled in HDHP/HSA compared to a mere 3.2 million in 2006. These findings reinforce a consistent growth trend for health spending accounts and a shift toward the consumer taking control over their healthcare spending (Figure 1).
“We are seeing consistent growth in new HSA accounts at a growth rate in excess of 20 percent year over year and we expect that to continue for the next couple of years,” Jon Robb at Devenir.
Key findings from the Devenir 2016 HSA Survey include: [Read more...]