Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Life Health > Health Insurance > HSAs

AHIP: HSA Balances Are Growing

By staff Writer

X
Your article was successfully shared with the contacts you provided.

The average balance for a health savings account (HSA) opened in 2005 increased to $2,098 in 2009, from $1,899 in 2008.

Researchers at America’s Health Insurance Plans (AHIP), Washington, are reporting that finding in a summary of an analysis based on HSA account data from 3 banks with large HSA operations.

All of the HSAs included in the analysis were open sometime in 2009 or on Dec. 31, 2009, depending on the type of data analyzed.

About 18% of the accounts were opened in 2006 or earlier, and 34% were opened in 2009.

The average HSA included took in $1,449 in personal deposits in 2009 and $496 in employer contributions. The average account holder earned $12 in interest, paid $15 in account fees, and made $1,183 in withdrawals.

Some HSAs had no deposits and no withdrawals.

For HSAs with any personal deposits, the average deposit was $2,050.

For HSAs with any withdrawals, the average withdrawal was $1,850.

For HSAs opened in 2005, the increase in the average balance was about 10%.

For HSAs opened in 2008, the average balance increased 53%, to $1,46, and for HSAs opened in 2007, the average balance increased 16%, to $1,638.

- Allison Bell

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.