JP Morgan HSA Use Surges

That equates to an annual average tax savings of $500 for each accountholder, JP Morgan says. Additionally, they say, 74 percent of accountholders contributed more than they spent during each month.

“For the third consecutive year we have seen a significant increase in the adoption of HSAs and, more importantly, they continue to be used as an effective consumer tool for managing health care expenses,” sasy Elena Szymanski, Executive Director, J.P. Morgan Treasury Services. “Consumer-driven plans combined with HSAs remain a valuable option for employers and individuals who want to take advantage of paying for medical expenses tax-free.”