14th edition of The Complete HSA Guidebook now available

Rhea-AI Summary

HealthEquity has released the 14th edition of The Complete HSA Guidebook, focusing on health savings accounts (HSAs). This updated edition includes vital updates reflecting the latest healthcare reforms and tax changes, such as insights from the CARES Act. As of now, the industry boasts 29.3 million HSAs with assets totaling $73.5 billion, with projections suggesting growth to 35 million accounts and over $100 billion in assets by the end of 2022. The guidebook aims to assist employers in understanding HSAs and encouraging consumers to manage their health and wealth effectively.

Positive

• The updated guidebook reflects significant healthcare reform and tax changes, enhancing its relevance.
• Industry growth is notable, with projections indicating an increase to 35 million HSAs and $100 billion in assets by 2022.

Negative

• None.

Includes 2021 tax changes and recent healthcare reform legislation

DRAPER, Utah, Nov. 02, 2020 (GLOBE NEWSWIRE) -- HealthEquity today announced the release of the 14th edition of The Complete HSA Guidebook, an industry leading educational tool that helps organizations and individuals improve their health and financial wellbeing through the better understanding and adoption of health savings accounts (HSAs).

First published in 2004, The Complete HSA Guidebook is written by HealthEquity founder Steve Neeleman, with key contributions from Hazel Witte, J.D., and the late Sophie Korczyk, Ph.D. The new edition includes notable updates on the latest healthcare reform and tax changes, including updates from the Internal Revenue Service (IRS) and the 2020 Coronavirus Aid, Relief, and Economic Security (CARES) Act.

The release comes as the industry reaches 29.3 million HSAs with $73.5 billion in assets, according to the 2020 Midyear Devenir HSA Research Report. By the close of 2022, Devenir currently projects that the HSA market will be approaching 35 million accounts with more than $100 billion in assets.

“We’re pleased to share the latest edition of The HSA Guidebook at a time when it has the greatest relevance to Americans,” said Neeleman. “This comprehensive guidebook exists to help employers understand the power of HSAs and empower consumers to save more, spend smarter and better connect health and wealth.”

The Complete HSA Guidebook is available at HSAGuidebook.com.

About HealthEquity

HealthEquity administers health savings accounts (HSAs) and other consumer directed benefits for nearly 12 million members in partnership with employers, benefits advisors and health and retirement plan providers who share our mission to connect health and wealth and value our culture of remarkable “Purple” service. For more information, visit www.healthequity.com.

Media Contact

Jayshri Patel
pr@healthequity.com
214-596-6905

FAQ

What is included in the 14th edition of The Complete HSA Guidebook by HQY?

The 14th edition includes updates on healthcare reforms and tax changes, particularly from the IRS and the CARES Act.

How many HSAs are currently in the market as reported by HQY?

As of now, there are 29.3 million HSAs with total assets of $73.5 billion.

What future projections does HQY provide for HSAs?

HQY projects an increase to 35 million HSAs and over $100 billion in assets by the end of 2022.

Who is the author of The Complete HSA Guidebook?

The guidebook is authored by HealthEquity founder Steve Neeleman, with contributions from Hazel Witte and Sophie Korczyk.