Fidelity HSAs See Largest Annual Increase

In 2011, Fidelity’s HSA customer base jumped 61% to 119,000 from 74,000 at the end of 2010. In addition, the company signed 16 new employers offering HSAs to their employees, ending the year with 57, up from 41 at year-end 2010. As of February 29, 2012, Fidelity administered HSA assets of $327 million, up 43% from $229 million one year prior.

“We’re seeing significant growth in our HSA business as employers turn to high deductible health plans to control escalating costs, and employees turn to the accounts for their long-term savings potential for future health care expenses,” said William Applegate, vice president, Fidelity Investments.