Inside Consumer Directed care released there semiannual report on Health Savings Accounts and they have continued to grow at an exponential rate.
Since the products became available in 2004, consumers have opened 2.9 million health savings accounts and have collectively banked more than $3.9 billion, according to ICDC’s semiannual report on HSAs. The average account balance, however, remained virtually unchanged at $1,348 - up just $7 since January. A year ago, financial firms said they collectively held more than $2.33 billion in 1.76 million accounts. By Jan. 1, 2008, assets had grown to $3.2 billion in 2.2 million accounts. The report is based on data from more than 40 financial firms that regularly provide ICDC with account figures. Also included in the estimate are data gathered from another 40 firms for AIS’s’ 2007 HSA Directory and Resource Guide. A similar report on credit unions will be included in an upcoming issue of ICDC.
Tags: ICDC
