Assets in health savings accounts increased 25% in 2020, to $82.2 billion, while the number of HSAs jumped 6% to more than 30 million, according to research by Devenir.
“Despite the COVID-19 pandemic, a record $42 billion was contributed to health savings accounts during 2020,” Jon Robb, senior vice president of research and technology at the Minneapolis-based investment firm, which specializes in HSAs, said in a press release. “Account holders were able to tap their health savings accounts to help cover over $30 billion in medical expenses throughout the difficult year, while continuing to accumulate meaningful savings for future medical expenses.”
The report also showed a surge in HSA investment assets, which totaled $23.8 billion at the end of 2020, up 52% year-over-year.
The survey data were primarily collected in January, Devenir said in a release, and consisted largely of input from the top 100 HSA providers in the health savings account market.
FINRA's proposed rule filing would create a new 10-day fraud delay and nearly triple the maximum hold period for exploited senior investors
Fueled by a recent shot in the arm from private equity firm Carlyle, MAI adds a $490 million Atlanta RIA as it keeps building out its national footprint.
“Todd Burkhalter organized what is likely the largest Ponzi scheme in Georgia history,” said one FBI official.
With experience from Goldman Sachs and TD Ameritrade, the RIA's newest SVP hire adds to a recent wave of executive departures from hybrid Osaic.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
