Six Takeaways from the Latest Survey of the Health Savings Account Market
By William G. Stuart | Originally posted on LinkedIn by MaxHSA
Health Savings Accounts continue to grow, helping patients receive the care they need with less of a financial burden.
The Devenir Research 2025 Year-End HSA Market Statistics & Trends report was published in April. Not surprisingly, it shows a vibrant market that is creating financial opportunities for millions of Americans.
Below, we focus on six takeaways from the report. There is much more in the survey, though. You can draw your own conclusions by reading the report here.
ONE. Growth Continues
The market continues to grow along every important measure:
Number of accounts. There were 41.7 million Health Savings Accounts at the end of 2025, representing a 17% jump from three years ago. In January 2026, the number increased to 42.8 million, a 3% increase over the 2025 end-of-year figure.
Account balances. At the end of 2025, Health Savings Account owners had accumulated $173.8 billion to reimburse future qualified expenses tax-free. That's a growth of 69% versus the end of 2022. The figure jumped to $181 billion, a 3% increase from the end of 2025, as employer front-loaded contributions were deposited into the accounts.
TWO. New Account Owners Fuel Account Growth
Over time, old Health Savings Accounts are closed as early adopters run their balances to zero because they are no longer eligible to contribute. One-sixth of all current accounts were created in the last year. Nearly three in seven (42%) were opened during the last three years.
Not surprisingly, assets did not keep pace. Only 25% of all Health Savings Account balances are contained in those accounts opened during the last three years. This figure is not surprising. Average account balances increase the longer the account has been opened. For example, the average funded Health Savings Account opened in 2025 has a balance of $2,181. Accounts opened in 2020 ($$6,000), 2015 ($9,150), and 2010 ($15,200) hold higher balances.