HSA in block letters with rolled up currency on top (Photo: Shutterstock)

Despite increased health care spending in 2021, Health Savings Account (HSA) enrollees ended the year with higher balances in their accounts, according to a new study from the Employee Benefit Research Institute (EBRI). The analysis outlines some interesting findings about HSA accounts in the year after the worst of the COVID pandemic. For the report, researchers looked at data from more than 13 million HSA accounts in the U.S.

EBRI officials said the findings were unexpected given the rebound in utilization of health care services in 2021. During the pandemic of 2020, health care spending decreased significantly, as people dropped doctor office visits and preventive care, sometimes because clinics were closed, or because of fears of COVID transmission. Yet when the utilization of care rebounded in 2021, HSA withdrawals to pay for care (called distributions) did not show a matching increase. The study found that out-of-pocket spending increased by more than 10% in 2021, yet the average HSA balance increased the same year, rising from $2,645 at the beginning of the year to $3,902 by the end of the year.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?


BenefitsPro Broker ExpoEvent

BenefitsPro Broker Expo will help attendees prepare for new issues, embrace new challenges and find new solutions.

Get More Information


Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.