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HSA Growth

Lively · August 23, 2017 · 2 min read

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HSAs aren’t new. In fact, they have been around since 2003. However, HSA growth in recent years has accelerated as consumers and employers begin to further understand their value for long-term health savings.

HSA Growth

Over the last several years, HSA account assets have grown 23% year over year. Which means there are now over 21 million accounts that encapsulate $42.7 billion in assets. That’s a big chunk of change that will provide health savings options, well into retirement for HSA participants.

The key drivers to growth are the increase of HSA compatible health insurance plans, like High Deductible Health Plans (HDHP). It should also be noted that 33% of employers contribute to employee HSA plans, so if you are part of this subset, count yourself lucky. Your employee is contributing to your long-term fiscal health.

One surprising data point is that 18% of HSA contributions came from individual accounts not associated with an employer. That’s right, even if your employer doesn’t offer an HSA or are self-employed, as long as you have a qualifying health plan, you can open an HSA to save for near term and long term health costs. Remember, unlike an FSA, there is no “use it to lose it” restrictions with an HSA. You can save for years to come.

HSA Investments

One key area of focus for HSA companies has been investments options. This allows employees and individuals to utilize the power of compound interest through investing to grow their accounts further. Investments saw 44% growth year over year and now account for over $6.8 billion in assets.

HSA Growth Projections

Research expert Devenir predicts that HSA assets will exceed $60 billion by the end of 2019, with over  30 million individual accounts. You can read more details in their mid-year 2017 report. No matter where the exact numbers end up in the next few years, the value of an HSA offering is becoming crucial for employers, employee, and individuals. We are Lively could not be more excited!

If you need more help with HSA decisions, check out our blog. We will make you a healthcare benefits expert in no time, without any extra work or effort on your end.

Lively

Lively

Lively is the modern HSA experience built for—and by—those seeking stability in the ever-shifting healthcare landscape. By harnessing modern innovation and deep industry expertise, Lively is committed to bridging today’s savings with tomorrow’s unknowns. Unlike traditional institutions hindered by bureaucracy, Lively’s commitment extends beyond initial set up to providing dedicated, ongoing support and education for every step. So each HSA can reach its maximum potential with minimal headache.

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Benefits

2024 and 2025 HSA Maximum Contribution Limits

Lively · May 9, 2024 · 3 min read

On May 9, 2024 the Internal Revenue Service announced the HSA contribution limits for 2025. For 2025 HSA-eligible account holders are allowed to contribute: $4,300 for individual coverage and $8,500 for family coverage. If you are 55 years or older, you’re still eligible to contribute an extra $1,000 catch-up contribution.

comparing hsa versus fsa

Benefits

What is the Difference Between a Flexible Spending Account and a Health Savings Account?

Lauren Hargrave · February 9, 2024 · 12 min read

A Health Savings Account (HSA) and Healthcare Flexible Spending Account (FSA) provide up to 30% savings on out-of-pocket healthcare expenses. That’s good news. Except you can’t contribute to an HSA and Healthcare FSA at the same time. So what if your employer offers both benefits? How do you choose which account type is best for you? Let’s explore the advantages of each to help you decide which wins in HSA vs FSA.

Benefits of HSA employer matching

Health Savings Accounts

Ways Health Savings Account Matching Benefits Employers

Lauren Hargrave · October 13, 2023 · 7 min read

Employers need employees to adopt and engage with their benefits and one way to encourage employees to adopt and contribute to (i.e. engage with) an HSA, is for employers to match employees’ contributions.

Disclaimer: the content presented in this article are for informational purposes only, and is not, and must not be considered tax, investment, legal, accounting or financial planning advice, nor a recommendation as to a specific course of action. Investors should consult all available information, including fund prospectuses, and consult with appropriate tax, investment, accounting, legal, and accounting professionals, as appropriate, before making any investment or utilizing any financial planning strategy.

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