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HSA balances increasing

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in Compensation and Benefits,Human Resources

Balances in health savings accounts grew by more than a third in 2015, according to the most recent results from the Employee Benefit Research Institute’s HSA Database.

The third annual update of the EBRI HSA database shows that at year-end 2015 (the latest data available), the average HSA balance was $1,844, up from $1,332 at the beginning of the year.

A health savings account is a tax-exempt trust or custodial account that is funded with contributions and assets that an individual can use to pay for health care expenses. Individuals can contribute to an HSA only if they are enrolled in an HSA-eligible health plan.

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