In 2024, Health Savings Account (HSA) assets in the US reached nearly $147 billion, across more than 39 million accounts, a 19% increase in assets and 5% in accounts compared to the previous year. 
Here's a more detailed breakdown:
  • Asset Growth:
    • HSA assets grew to nearly $147 billion by the end of 2024, a 19% increase year-over-year. 
    • HSA investment assets increased by 38%, reaching $64 billion by the end of 2024. 
  • Account Growth:
    • The number of HSA accounts increased to more than 39 million, a 5% increase year-over-year. 
  • HSA Market Projections:
    • Devenir projects that the HSA market will exceed 43 million accounts by the end of 2026, holding nearly $175 billion in assets. 
  • HSA Benefits:
    • HSAs are tax-advantaged accounts that can be used to save for qualified medical expenses. 
    • Funds contributed to an HSA are tax-deductible, and any earnings or interest on the assets are tax-free. 
    • Distributions from an HSA can be used to pay for qualified medical expenses, and are tax-free. 
    • HSAs can also be used for retirement planning, as funds can be used for qualified medical expenses in retirement. 
  • HSA Investment:
    • You can invest HSA funds in a variety of mutual funds, stocks, bonds, ETFs, and more. 
    • Any earnings on investments in your HSA are federally tax-free. 
    • You can choose to invest a portion of your HSA funds and keep the rest in a cash account to cover current expenses. 
  • HSA Providers: