At a glance
- The accounts behind that majority are a small minority of the market: about 4.7 million, or 11% of all HSAs.
- Their average combined balance of $23,837 was nearly nine times the average funded deposit-only account.
- Employer-affiliated accounts made up 61% of all HSAs and held 65% of all HSA assets, Devenir found.
For the first time, more than half of health savings account assets — 52% — were held in investments as of June 30, according to Devenir's 2026 Midyear HSA Research Report. The accounts behind that majority are a small minority of the market: about 4.7 million, or 11% of all HSAs.
Those investment-holding accounts held 59% of all HSA assets once deposits and investments were combined, PLANADVISER reported. Their average combined balance of $23,837 was nearly nine times the average funded deposit-only account.
Employer-affiliated accounts made up 61% of all HSAs and held 65% of all HSA assets, Devenir found. They were also far more likely to be funded: 12% of employer-sponsored HSAs were unfunded as of June, against 33% of non-employer HSAs.
Among funded accounts, non-employer HSAs averaged $5,937, ahead of the $5,496 average for employer-affiliated accounts. The overall average funded balance rose 14% to $5,642.
Where the HSA dollars come from
Employees contributed 60% of HSA dollars through employer plans, employers supplied 25%, and individual contributions to non-employer accounts made up 13%. Individual contributions to non-employer accounts averaged $2,417, compared with $1,458 for employees contributing through employer plans and $676 for employers.
HSAs holding at least $10,000 reached 4.4 million, a 29% increase from a year earlier, and accounts with at least $25,000 grew to almost 1.9 million, up nearly 50%. In total, HSAs held nearly $192 billion across 42.6 million accounts as of June 30, with balances up 20% year over year and accounts up 7%. Devenir had put the market at $174 billion across 41.7 million accounts at the end of 2025.
Account holders put $35.2 billion into HSAs in the first half of 2026 and withdrew $23.8 billion, netting $11.5 billion, according to the report. Contributions rose 7% from the first half of 2025 and withdrawals 5%. Devenir's savings ratio by account vintage shows accounts opened in 2026 took in $4.10 for every dollar withdrawn, against $2.40 for accounts opened in 2025 and $1.40 for 2024 accounts.
Who puts money into HSAs: employees, employers, individuals
Share of HSA dollars contributed in the first half of 2026
Show as table
| Label | Value (%) |
|---|---|
| Employees via employer plans | 60% |
| Employers | 25% |
| Individuals, non-employer accounts | 13% |
The accounts behind that majority are a small minority of the market: about 4.7 million, or 11% of all HSAs.
Reported by the Plans & Sponsors desk from PLANADVISER and Devenir 2026 Midyear HSA Research Report. Published . Corrections