Employers may be contributing less to health savings accounts, but workers themselves are putting more money than ever into their own tax-free accounts.
A new report by the Employee Benefit Research Institute found that the average amount of money in an HSA increased by 37 percent in 2014, from $1,408 to $1,933. The report also found that account-holders deposit an average of $2,096 to their accounts annually.
HSAs came onto the market a decade ago and are now a big piece of the U.S. health care market. EBRI estimates that there are currently 13.8 million HSAs covering roughly 17 million policyholders and their dependents. The accounts are worth an estimated $24.2 billion.
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Dan Cook
Dan Cook is a journalist and communications consultant based in Portland, OR. During his journalism career he has been a reporter and editor for a variety of media companies, including American Lawyer Media, BusinessWeek, Newhouse Newspapers, Knight-Ridder, Time Inc., and Reuters. He specializes in health care and insurance related coverage for BenefitsPRO.
