A big health savings account (HSA) custodian says the fourth quarter of 2018 looked great.
HSA Bank, a unit of Webster Financial Corp., generated $60 million in operating revenue during the quarter on $5.7 billion in deposits, up from $47 million in operating revenue on $5 billion in deposits in the fourth quarter of 2017.
(Related: Nationwide Aims for Slice of $54B HSA Market)
Here’s a look at how some key HSA Bank performance indicators changed, year-over-year:
- The number of accounts increased 11%, to 2.7 million.
- The total amount of deposits in investment accounts linked to the HSAs increased 15%, to $1.5 billion.
- Average deposits per HSA increased 3%, to $2,109.
- Average investments per HSA increased 4.1%, to $536.
HSA Bank’s parent, Webster Financial, is a national bank based in Waterbury, Connecticut. It has about $28 billion in assets.
— Read Fidelity Joins Health Insurer Group, on ThinkAdvisor.