We’ve all seen the numbers: Health savings accounts just keep growing.
The still relatively new health savings vehicle has now grown to an estimated $18.1 billion in assets representing more than 9.1 million accounts. That’s a 29 percent increase in both accounts and assets in just one year, according to research from investment consulting firm Devenir.
High health care costs
Increasing consumer involvement
One big draw of health savings accounts — and other consumer-driven health products — is they make consumers more active in their health care.
Two words (or technically, a one-word hyphenate) can describe why HSAs are becoming increasingly popular: Tax-exempt.
Large employers on board
Large employers are now on board with HSAs—and it’s making a huge difference in the overall numbers.
Most important, as far as Severino is concerned, HSAs are growing because people are seeing an impact on their bottom line.