2025 Devenir & HSA Council Demographic Survey
Key Findings
Nearly 62 million Americans covered by an HSA.
Devenir estimates that as of December 31, 2025, there were 41.7 million HSAs, collectively providing coverage for approximately 62 million people.
Older accountholders continue strong HSA asset accumulation.
Accountholders aged 55+ had accumulated almost $75 billion in their accounts at the end of 2025 (an 18% increase from the previous year). The average HSA balance for this age group reached $7,178.
Millennial accountholders hold a significant share of HSAs.
By the end of 2025, individuals aged 30 to 44 held 42% of all health savings accounts.
HSAs exhibit broad socioeconomic adoption.
62% of health savings accounts are held in communities with a median household income below $100,000.
Age Demographics of Accountholders
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Source: Devenir Research
Source: Devenir Research
30%
of health savings accountholders are in their 30s
28%
of HSA assets are held by accountholders aged 55 to 64 years old
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A funded account is defined as an account with a balance of greater than $0 as of 12/31/2025.HSAs by State
Estimated People Covered by an HSA by State
Health Savings Accountholder Median Household Income
62%
of health savings accountholders live in a zip code with a median household income of less than $100,000
Report Methodology
This report is derived primarily from the 2025 Devenir & HSA Council Demographic Survey. Respondents primarily consisted of top 20 HSA providers in the health savings account market. All data was requested for the period ending on December 31st, 2025.
Survey responses are self-reported by each HSA provider. When possible, Devenir attempts to verify responses through a variety of channels, including but not limited to press releases, annual reports, and prior HSA research.
A funded account is an account with a balance greater than $0 as of December 31st, 2025. An unfunded account is an open account with a $0 balance.
About Devenir
Devenir is a national leader in providing customized investment solutions for HSAs and the consumer directed health care market. When health savings accounts first emerged in 2004, Devenir built its expertise around delivering cutting-edge investment solutions. As the consumer driven health care industry grew, so did Devenir's reputation as a leading researcher and award-winning investment consultant. Today, Devenir continues to lead the way in the rapidly growing HSA market. A research driven perspective makes Devenir the go-to investment advisor, HSA investment platform and consultant to employers, banks, third party administrators, health plans, and technology providers. Learn more at devenir.com.
Devenir Research Team
- Jon Robb — Senior Vice President, Research & Technology
- Eric Remjeske — President
- Garrick Fults — Investment Analyst
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