HealthEquity announces HSA sales outlook

HealthEquity announced estimates of HSAs, HSA assets and total accounts for its fiscal year ending January 31, 2023, reflecting record new openings and custodial asset growth. Estimated HSAs are expected to be approximately 8 million by January 31, 2023, up from 7.2 million a year earlier. Estimated HSA assets are expected to be approaching $22 billion, up from $19.6 billion at the end of fiscal year 2022. Invested balances are subject to market fluctuation. Estimated total accounts are expected to be approaching 15 million compared to 14.4 million at the end of fiscal year 2022, not including suspended commuter accounts. The Company estimates that it will end its fiscal 2023 year with more than 120,000 employer clients and over 200 network partners consisting of integrated health and retirement plan partners, brokers and benefit advisors. Commenting on the results, Jon Kessler, President and CEO said, "Team Purple and our partner ecosystem are on track to deliver back-to-back record-breaking sales years with approximately 950,000 new HSAs from sales this year. We look forward to finishing fiscal year 2023 strong as we welcome many new members to HealthEquity. Increasing member HSA assets and rising interest rates are expected to drive continued growth for fiscal 2024 and beyond."