Boston, May 11, 2021 – The flat interest rate environment since March 2020 has dealt a blow to custodian banks and institutions that make their livelihood from net interest margin, and banks are searching for a way to replace that lost revenue. Bank custodians with a diversified revenue stream will weather this environment more comfortably than others. For those others, the search for a life vest is now officially underway.

This Impact Report reviews the levers that health savings account stakeholders can use to defend and recover HSA-related revenue streams. It is based on Q4 2020 and Q2 2021 Aite Group interviews with 30 executives in the United States across bank and nonbank custodians, health plans, payments processors, technology platform providers, and third-party administrators actively engaged in HSAs.

This 26-page Impact Report contains five figures and four tables. Clients of Aite Group’s Health Insurance or Life Insurance service can download this report, the corresponding charts, and the Executive Impact Deck.

This report mentions Alegeus, Amazon, Ameriflex, Apple, BenefitExpress (now part of WEX Health), ConnectYourCare (now part of Optum Financial), CVS Health, DataPath, Discovery Benefits (now part of WEX Health), the FDIC, the Federal Reserve, Fidelity, Google, HSA Store, Mastercard, Optum Financial and Optum Bank, PNC Bank, Target, Visa, Walgreens, WEX Health, and WEX Bank.