HSA invested balances reach $100 billion, 52% of assets, Devenir says

Devenir Group's 2026 Midyear HSA Research Report, released Oct. 13, says that invested health savings account balances reached $100 billion as of June 30, 52% of the $192 billion held across 42.6 million accounts. Investment balances rose 37% from a year earlier, when they were 46% of the market, and it is the first time investment balances have held a majority of HSA dollars.

About 4.7 million accounts, or 11% of all HSAs, held investments; together they carried 59% of all HSA assets with an average combined balance of $23,837, according to the report. That average is nearly nine times that of a funded deposit-only account. The average funded account across the whole market held $5,642, up 14% from a year earlier.

Devenir attributes much of the balance gap to tenure: accounts opened in 2004 averaged $36,870 at midyear, while accounts opened in 2026 averaged $1,963. HSAs holding at least $10,000 rose 29% from a year earlier to 4.4 million, six times the roughly 707,000 at that level a decade ago. Accounts at $25,000 or more grew nearly 50% to almost 1.9 million.