December 4, 2008

HSA's on the Rise

Dean Halverson

A recent study conducted by Forrester research found that health savings accounts (HSAs) have grown to more than 6 million! Forrester also found that the average balance of funds that rolls over each year is $1,457 – totaling more than $8 billion in assets and savings.

HSAs truly are on the rise as consumers decide to treat their health spending like traditional spending and save for the future. Even though they currently only have a 7 percent adoption rate, HSAs are growing faster than any other type of account. Forrester reported that JPMorgan Chase saw 60 percent growth of its HSA account option in just the past year.

But the question isn’t how to get more consumers to sign up (they already are), but how to market to the ones that do. Check back next week to find out how…

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