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  • Treasury Services releases third annual Health Savings Account Program Snapshot report (selected)

Treasury Services releases third annual Health Savings Account Program Snapshot report

Feb 15, 2012

J.P. Morgan’s Treasury Services business recently announced the results of its third annual health savings account (HSA) Program Snapshot report.

The 2011 HSA Program Snapshot report provides a transparent view of HSA usage patterns and trends among Chase HSA account holders, along with first-hand insight into how HSAs have become an integral part of helping individual consumers save and pay for medical expenses. Among the highlights in 2011:

  • The average balance in 2011 for new HSA accounts rose to its highest level in 7 years – and is nearly $1,000
  • The average HSA balance in 2011 was $1,547 – up 4 percent from 2010
  • The average account contribution in 2011 was $1,912 versus $1,884 in 2010, an increase of approximately 1.5 percent
  • The average accountholder is saving approximately $500 in taxes annually (assuming a 28 percent federal income tax rate). Average balances are also increasing by approximately $500 per account per year an account is open
  • 74 percent of accountholders contributed more than they spent during each month in 2011

See the complete report of J.P. Morgan’s HSA Program Snapshot

 
 

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