Average HSA Balance

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What is the average HSA balance? Should you even keep a balance in your HSA?

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Mike Bernard, CFP® offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results.
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I shoebox my receipts and pay my medical bills out of pocket. I plan to use my HSA money to buy my retirement vehicles for my wife and me. Thanks for all your helpful information.

mihandsplitters
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We keep a 1K cash balance in our HSA as required by our company. We've maxed out the HSA for the last 4 years that it has been available to us. We invest everything over the 1K in 2 funds. We keep all the medical receipts in a folder so we can withdraw the funds at a later date or when we retire. We're letting it grow tax free. HSA is triple tax advantaged. Tax break now, grows tax free & withdrawals will be tax free if for medical expenses. Its a good deal 🤮

claudiap
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i'm below average but my employer just started offering HSA in 2023, i'm young so I plan to just keep investing and pay for medical out of pocket

lesliejimenez
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As a single man I'm above the average. But I don't touch it and invest 100% in s&p 500 index fund.

Retiredmco
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Mike - where did the HSA balance data come from?

misterb.