亚洲色吧

Saving now. Planning for retirement. Investing. Participants can do a lot with a health savings account (HSA). However, the majority of HSA participants are using these accounts for short-term needs. Check out this episode of our Benefits podcast as we discuss how HSAs are being used so you can gain insight into how to best engage participants. Or keep reading to learn more.聽

How are HSAs being used today?

HSAs are a valuable tool when it comes to retirement planning and investing. For those participants who are turning to these accounts as part of their long-term savings strategy, there are benefits. The average HSA balance for accounts that invest than the average HSA balance for non-investment accountholders.聽

However, only about . That鈥檚 why it鈥檚 important to communicate to participants in a way that resonates with whatever stage they鈥檙e at in their HSA lifecycle.聽

鈥淭he reality is the vast majority of people do not use health savings accounts (for retirement planning and investment),鈥� said Chris Byrd, Executive Vice President of Healthcare Operations at 亚洲色吧 on our Benefits podcast. 鈥淨uite frankly, if you look across the population at the typical employer 鈥� you鈥檝e got a whole diversity of population out there, from people who can comfortably save for retirement to people who live paycheck to paycheck.鈥�

, which was just released Wednesday, March 23, included other findings, such as:

• HSA assets grew 19 percent from 2020 to 2021, with the number of accounts increasing 8 percent.
• HSA investment assets grew 45 percent year-over-year to about $34 billion.
• The average HSA employer contribution was $867. About 26 percent of all employers contributed to their employees’ HSAs.

What are today鈥檚 modern consumer challenges?聽

More than half of all Americans can鈥檛 pay for . And the inflation rate in 2021 . Because of that, HSA participants might be more apt to look for ways to save today.聽

鈥淲e鈥檙e seeing a lot of third-party research more broadly in the economy that people鈥檚 number one concern is inflation,鈥� Byrd said.聽

7 HSA behavior segments

Through our research, we鈥檝e found that HSA participants鈥� behavior falls into seven different segments. By tailoring messaging to each segment, you can equip the participant with the information they need to get more out of their HSAs.

It鈥檚 important to understand that these segments aren鈥檛 personas. HSA participants can shift from one segment to another, based on a variety of reasons including their understanding of HSAs, how much their employer contributes to the account, and their own individual circumstances.

Check out our infographic to learn the seven HSA behavior segments we鈥檝e identified through our research:聽

The information in this blog post is for educational purposes only. It is not legal or tax advice. For legal or tax advice, you should consult your own counsel.