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Close up photo of a stethoscope on top of a stack of United States cash.
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HSA: A savings account without the saving?

By and large, employees who are enrolled in a health savings account are using them as spending accounts rather than as tax-free long-term savings accounts, according to new research from Willis Towers Watson. Meanwhile, about one in four employees who can enroll in an HSA opted not to enroll, according to the consulting firm’s survey of more than 2,100 employees.

Here are 10 findings about health savings accounts from the report.
BTN_1018_1_65% Tapping HSA.png

65% of workers are tapping their HSAs to pay for immediate healthcare expenses

BTN_1018_3_27% Use when necessary.png

27% use the money only when necessary and save the rest

BTN_1018_5_8% Saving for the future.png

8% are saving the money for the future

BTN_1018_2_45% 5K Saved.png

45% have more than $5,000 saved in their HSA

BTN_1018_4_24% Not enrolled.png

24% of employees are not enrolled in their employers’ HSA

BTN_1018_6_57% No advantages.png

57% don't enroll in an HSA because they don't see the advantages

BTN_1018_7_24% not enough money.png

24% don't enroll in an HSA because they don't have enough money to contribute

BTN_1018_8_10% Employer does not contribute.png

10% don't enroll in an HSA because their employer doesn't contribute to the account

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8% say they haven't enrolled in an HSA because they didn't take the time to do it

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5% say they aren't enrolled in an HSA because they don't understand HSAs

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