The growth of the health savings account market appears to be slowing, and that means HSA providers may have to change their strategies, according to a new report from Aite Group.
According to Aite analysts, account growth is forecast at a compound annual growth rate of 14% from 2018 to 2022, compared with earlier estimates of an 18% compound annual growth rate from 2016 to 2021.
Through 2022, Aite says, growth in HSAs will keep the product mix in health benefit accounts changing. HSAs are expected to overtake flexible spending accounts (FSAs) and health reimbursement accounts (HRAs). HSA could account for 44 million of the 95 million personal health benefits accounts in use by 2022.
Of course, the 2020 elections could change everything and turn every health account-related prediction upside down.
For 7 key HSA market points for benefits advisors to think about now, drawn from the Aite report, see the idea cards in the slideshow above. Wiggle your pointer over the first slide to make control arrows show up.
— Read HSA Bank Reports Strong Account and Revenue Growth, on ThinkAdvisor.