{"id":689280,"date":"2022-09-27T09:49:54","date_gmt":"2022-09-27T13:49:54","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/morningstars-sixth-annual-health-savings-account-landscape-finds-fidelity-remains-industry-leader\/"},"modified":"2022-09-27T09:49:54","modified_gmt":"2022-09-27T13:49:54","slug":"morningstars-sixth-annual-health-savings-account-landscape-finds-fidelity-remains-industry-leader","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/morningstars-sixth-annual-health-savings-account-landscape-finds-fidelity-remains-industry-leader\/","title":{"rendered":"Morningstar’s Sixth Annual Health Savings Account Landscape Finds Fidelity Remains Industry Leader"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n In addition to provider recommendations, the study also features a new section on actionable best practices for individuals seeking HSAs<\/i>\n <\/p>\n

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\n CHICAGO<\/span>
\n <\/span>, Sept. 27, 2022<\/span><\/span> \/PRNewswire\/ — Morningstar, Inc.<\/a>\u00a0(Nasdaq: MORN), a leading provider of independent investment research, today published its sixth annual landscape study on health savings accounts (HSAs) available to individuals. The study finds assets in HSAs have grown at a 31% annualized growth rate over the past 15 years, and while the HSA industry has bettered its offerings in that time, several participants have room for improvement.<\/p>\n

The study evaluated 10 of the most prominent HSA providers’ offerings on two different use cases: as investment accounts to save for future medical expenses and as spending accounts to cover current medical costs. New this year, the study also provides best practices for individual participants to take full advantage of HSA investment features and flexible spending policies, and advocates for improvements to the onboarding process to help facilitate broader adoption of HSAs.<\/p>\n

“HSAs are valuable tools for investors when used properly, but the industry is still young and maturing. Its opaque structure needs improvement,” said Tom Nations<\/span>, lead author of the study and associate director of manager research. “Despite Morningstar’s advocacy, there is considerable variance in the quality of HSAs available to individuals as some providers still have high costs and confusing features. As the space continues to grow, we’re looking to see more widespread improvement, namely among account investment menus, fees, and fund quality.”<\/p>\n

Highlights from the study include:<\/p>\n