EBRI Issue Brief
HSA Balances, Contributions, Distributions, and Other Vital Statistics—A First Look at Data from the EBRI HSA Database on the 10th Anniversary of the HSA
Summary
- The EBRI HSA Database contains data collected from various HSA providers on 1.5 million accounts with total assets of $2.7 billion as of December 31, 2013. This Issue Brief is the first annual report drawing on cross-sectional data from the EBRI HSA Database. It examines account balances, individual and employer contributions, annual distributions, deductibles and type of coverage when the HSA was opened, and account- owner demographics for 2013.
- This year marks the 10th anniversary of the creation of health savings accounts (HSAs) under the Medicare Prescription Drug, Improvement, and Modernization Act of 2003.
- Starting from scratch a decade ago, enrollment in HSA-eligible health plans is estimated to range from 15.5 mil-lion to 20.4 million policyholders and their dependents, and it has also been estimated that there are 10.7 mil-lion accounts holding $19.3 billion in assets as of Dec. 31, 2013. Seventy percent of HSAs were opened since 2011.
- The average HSA balance at the end of 2013 was $1,766, up from $1,280 at the beginning of the year. Average account balances increased with the age of the owner of the account. Account balances averaged $697 for owners under age 25 and $4,460 for owners ages 65 and older.
- HSAs with either individual or employer contributions accounted for 69 percent of all accounts and 87 percent of the assets. Six percent of these accounts ended the year with a zero balance.
- On average, individuals who made contributions deposited $2,032 to their account. HSAs receiving employer contributions received $1,184, on average.
- Four-fifths of HSAs with a contribution also had a distribution for a health care claim during 2013.
- Among HSAs with claims, the average amount distributed for health care claims was $1,953.
- Distributions for health care claims increased with age, with the exception of those ages 65 and older. Average annual distributions were $667 for account owners under age 25; $2,335 for account owners ages 55–64; and $2,017 for account owners ages 65 and older. Average annual distributions were higher for accounts that were older. However, the likelihood of taking a distribution for health care claims was higher among accounts opened more recently.
- HSAs are likely to keep growing: It is expected that 30 percent of larger employers will offer an HSA-eligible health plan or HRA as the only plan option by 2015.
is-fullcontent: {}
is-author: False
Package: sub-health
Package-Description: PUBLIC=Summary;
UG_MEM_REGISTER=Summary;
UG_MEM_CONTENT=Summary;
UG_MEM_PRIMARY=Full;
UG_MEM_SUSTAINING=Full;
UG_MEM_TRUSTEE=Full;
UG_FRIEND=Full;
UG_EC_MEM=Full;
UG_RC_MEM=Full;
UG_SPC_MEM=Full;
UG_MEM_ASEC_PARTNER=Summary;
UG_MEM_ASEC_POLICY=Summary;
UG_EE_BASIC=Full;
UG_EE_FULL=Full;
UG_RC_RE_INALL=Summary;
UG_RC_H_INALL=Summary;
UG_RC_WE_INALL=Summary;
UG_SUR_RCS=Summary;
UG_SUR_WBS=Summary;
UG_SUR_CEHCS=Summary;
UG_SUR_FWS=Summary;
UG_SUB_FW=Summary;
UG_SUB_RET=Summary;
UG_SUB_HEALTH=Full;
UG_PLANSPONSOR=Full;
FieldsAccess: {"PUBLIC":"Summary","UG_MEM_REGISTER":"Summary","UG_MEM_CONTENT":"Summary","UG_MEM_PRIMARY":"Full","UG_MEM_SUSTAINING":"Full","UG_MEM_TRUSTEE":"Full","UG_FRIEND":"Full","UG_EC_MEM":"Full","UG_RC_MEM":"Full","UG_SPC_MEM":"Full","UG_MEM_ASEC_PARTNER":"Summary","UG_MEM_ASEC_POLICY":"Summary","UG_EE_BASIC":"Full","UG_EE_FULL":"Full","UG_RC_RE_INALL":"Summary","UG_RC_H_INALL":"Summary","UG_RC_WE_INALL":"Summary","UG_SUR_RCS":"Summary","UG_SUR_WBS":"Summary","UG_SUR_CEHCS":"Summary","UG_SUR_FWS":"Summary","UG_SUB_FW":"Summary","UG_SUB_RET":"Summary","UG_SUB_HEALTH":"Full","UG_PLANSPONSOR":"Full"}
access: {}
test-roles: ["BackendUsers","Administrators","Editors"]
ContentFieldName:
DataResult: {}
AllowAccessToContent: False
navigateUrl: http://www.ebri.org/content/hsa-balances-contributions-distributions-and-other-vital-statistics-a-first-look-at-data-from-the-ebri-hsa-database-on-the-10th-anniversary-of-the-hsa-5410fullhsa-balances-contributions-distributions-and-other-vital-statistics-a-first-look-at-data-from-the-ebri-hsa-database-on-the-10th-anniversary-of-the-hsa-5410