Key Findings
Critical insights, metrics, and indicators from HSA saving, spending, and investing in 2022.
Insight 1
Spending on hospital visits increased by nearly 14% from 2021.
This perhaps shows a return to voluntary and non-urgent procedures as the pandemic eased.
Insight 2
Spending on vision and eyewear increased by over 150% from 2021.
This could be due to people becoming more comfortable with in-person visits and taking care of appointments they may have put off during 2020 and 2021.
Insight 3
Spending on mental health only represents .21% of all HSA spending.
Despite continued emphasis on mental health and wellness, spending on mental health declined from 2021.
Insight 4
Lively account holders invest at more than twice the rate of the average HSA account holders.
15% of Lively account holders invest their HSA dollars, compared to 7% industry-wide according to Devenir’s 2022 year-end report, demonstrating the importance of easy to access investment options.
Insight 5
Lively account holders save more than the average account holder.
The average asset retention rate for HSA balances industry wide is 28% according to Devenir’s 2022 year-end report, compared to 45% for Lively account holders, emphasizing the importance of education about the value of using HSA to save for the long term.