Health savings accounts (HSAs) offer a triple tax advantage, allowing individuals to save funds to be used for medical expenses in the present or to invest them to be allocated toward medical expenses in the future. This Fast Fact delves into HSA usage as reported in the 2025 Consumer Engagement in Health Care Survey, examining why accountholders open HSAs and what they do with the funds they accrue.
Figure 2 How do you view this account? More information about the EBRI/Greenwald Research Consumer Engagement in Health Care Survey can be Has an HSA found online. 70% The 2025 Consumer Engagement in Health Care Survey was an online survey of 2,001 Americans ages 21 – July 16, 2026, #559 60% 64 with private health insurance coverage. It was fielded between October and November 2025. The survey is made possible with funding support from the following organizations: Blue Cross Blue Shield Association, Cigna Healthcare, HealthEquity, Inspira Financial, Johnson & Johnson, Segal, TIAA, and 50% WEX. Most HSA Holders Use Accounts for Current Expenses The Employee Benefit ReRather T search Institute is han a private, Long nonparti- saTe n, and n rm onpr S oav fit res ing earch institute based in 40% Washington, D.C., that focuses on health, savings, retirement, and economic security issues. EBRI does not lobby and does not take policy positions. The work of EBRI is made possible by funding from its members and 30% sponsors, which include a broad range of public and private organizations. For more information, visit The Employee Benefit Research Institute (EBRI)/Greenwald Research Consumer Engagement in Health Care www.ebri.org. Survey found that among enrollees with health savings accounts (HSAs), employer contributions were the most commonly cited reason for opening an account, followed by saving for future health care expenses. 20% Greenwald Research is a leading independent custom research firm and consulting partner to the health and wealth industries that applies creative quantitative and qualitative methods to help companies stay competitive Fewer enrollees cited tax savings as their primary motivation compared with prior years. and na 10% vigate industry change. Leveraging deep subject matter expertise and a consultative approach, Greenwald offers comprehensive services to answer strategic business questions. For more information, go to www.greenwaldresearch.com 0% Figure 1 Savings Account Investment Account Checking Account None of the Above Why did you decide to open a health savings account? ### Source: 2025 EBRI/Greenwald Research Consumer Engagement in Health Care Survey. Has an HSA Two-thirds of HSA holders reported using their account to pay for current or near-term out-of-pocket health care To Take Advantage of Employer Contributions expenses. Fewer reported using their HSA primarily to save for health care expenses in retirement. To Have an Account That I Can Use to Save for Future Health Care Expenses Figure 3 To Have an Account That I Can Use Exclusively for Health Care How are you using your account? Expenses Has an HSA To Save on Taxes To Pay for Out-of-Pocket Expenses Incurred This Year or in the Near Term To Help Save for Health Care Expenses in Retirement Minimizing Your Taxes or Reducing Taxable Income To Use the Investment Options to Grow My Account Saving for Health Care Expenses in Retirement To Cover Unexpected Medical Expenses, So That I Can Save More in To Help Save for Retirement Other Accounts To Cover Unexpected Medical Expenses, So That I Can Save More 0% in 10% 20% 30% 40% 50% 60% Other Accounts Source: 2025 EBRI/Greenwald Research Consumer Engagement in Health Care Survey. Investing Account Funds in Stocks, Bonds, or Mutual Funds To Pay for a Mix of Short-Term and Long-Term Health Care Expenses Most HSA holders viewed their account as a savings account rather than an investment vehicle. Only about three in 10 viewed their HSA primarily as an investment account, indicating limited use of HSAs as long-term savings Reimbursing Yourself for Out-of-Pocket Health Expenses When You tools. Need the Money 0% 10% 20% 30% 40% 50% 60% 70% 80% Source: 2025 EBRI/Greenwald Research Consumer Engagement in Health Care Survey. © 2026, Employee Benefit Research Institute, 901 D St. SW, Suite 802, Washington, DC 20024, 202/659-0670 | ebri.org 2 3