As the market continues to grow for HSAs, so does the importance for education around account holder behavior and how employers can use segmentation data to create engaging benefit strategies that will ultimately increase financial wellness.

Through segmentation data and account behavior analysis on its more than 1 million active health savings account (HSA) accountholders, UMB Healthcare Services is offering specific partner data and employer data* similar to what is found in the below infographic.

Education on how HSAs can be used as a long-term investment strategy is also important in increasing financial wellness among accountholders. In the segmentation data, UMB found that accountholders who invest in their HSAs have a larger balance overall in their deposit account.

Key findings from the 2017 segmentation data include:

  • Savers (UMB accountholders whose HSA balance was greater than the amount spent) represent the largest segment for the fifth consecutive year.
  • On average, UMB HSA accountholders have had their accounts open for a little more than two years, funded accounts have an average account balance of $1,792 and have received a $438 annual employer contribution.
  • Mean average household income of a UMB HSA accountholder is $57,108.
  • Top three occupations: administration management, professional technical, tradesperson.

*UMB’s HSA Data Analytics Tools, HSAWorks®, EngageCore™ and EngageAdvanced™, examine trends in account balances, individual and employer contributions, distributions, invested assets and account-owner demographics.

Learn more about UMB Healthcare Services, which ranks fifth in total accounts and seventh in total assets among all HSA providers (Source: 2017 Midyear Devenir Report).