Health savings account (HSA) contributions and balances increased in 2010, according to J.P. Morgan Treasury Services.
J.P. Morgan Treasury Services, a unit of JPMorgan Chase & Company, New York., has published that assessment in a summary of results from an analysis of the performance of 700,000 HSAs managed by JPMorgan affiliates.
JPMorgan now administers HSAs with about $1.1 billion in assets.
The average HSA balance at JPMorgan increased 7% in 2010, to $1,494, and the average HSA contribution increased 3.7%, to $1,884.
Other JPMorgan HSA program findings:
- 73% of accountholders contributed more than they spent during each month in 2010, up from 68% in 2009.
- The average accountholder age is 43.
- The average annual total of HSA distributions increased 5.5% in 2010, to $1,377.
- Warren S. Hersch