Research analyzing health saving accounts managed by three large banks shows that accounts with employer contributions had an average contribution of $1,058 for calendar year 2009.
The banks in the study act as trustees to more than 1.2 million HSA accounts open as of Dec. 31, 2009. In analyzing account information, policy analysts at the America’s Health Insurance Plans found that 42% of the accounts had employer contributions.
However, the public should not conclude that "the percentage of all accounts in this study reporting employer contributions – about 42% of all accounts, both employer-based and individually-purchased – represents the percentage of employers that subsidize their employees’ accounts," explain researchers at AHIP’s Center for Policy and Research.
In addition, many of the accounts in the research were based on "individually purchased (non-employer)" high-deductible health plans and HSA coverage, and "thus may not have been eligible for employer contributions."
Still, the financial institutions that administered the accounts "represent a substantial share of HSAs in place, and the characteristics of their HSA accounts are likely commonplace in the industry," researchers note.
The study findings, which are outlined in the report "
The average age of an HSA accountholder was 43. About 16% of HSA owners were age 20-29; 25% were age 30-39; 27% were age 40-49; 23% were age 50-59; and 8% were age 60 and older, according to the research.
Other key findings include:
- About 67% of HSA accounts in the study had personal deposits; 61% had withdrawals; 72% reported interest earnings; and 46% were charged fees. Interest earnings and fees averaged $17 and $33, respectively, in 2009, among accounts reporting interest earnings and fees.
- Average balances in prior years were: $572 for accounts opened in 2009; $1,146 for accounts opened in 2008; $1,638 for accounts opened in 2007; $2,516 for accounts opened in 2006; $2,908 for accounts opened in 2005; and $2,316 for accounts opened in 2004 or earlier (including rollovers from Archer Medical Savings Accounts).
- In December 2009, approximately 14% of open HSAs had zero balances; 54% had balances less than $1,000; 13% had balances of $1,000 to $2,000; 13% had balances between $2,000 and $5,000; and 7% had balances of $5,000 or more.
- Among accounts with personal deposits in 2009, the average deposit size was $2,050.
