Health savings accounts (HSAs) are becoming more popular. However, many new account holders are unsure of the basics, much less how to maximize their savings. Emerging AI-powered tools may be key for facilitating financial engagement.
How AI Empowers HSA Account Holders
The prevalence of HSAs has increased substantially as high-deductible health plans have grown more common. In 2023, an estimated 36 million people reported having one. Collectively, these accounts hold more than $116 billion, up 500% since 2013. With more people relying on these tax-advantage savings accounts, providers are rethinking their workflows.
Some have turned to AI to develop smart management tools, which consumers can use to get more out of their accounts. This technology can help them save time and money. Account administrators serving as the custodians of their assets can use it to process contributions, manage investments and ensure fund availability, potentially improving patient outcomes.
This technology is quickly becoming an industry staple, resulting in novel applications. Experts project its market value will reach an estimated $1.33 trillion by 2030, up from $214 billion in 2024. Leveraging it for HSA optimization is unprecedented, but shows promise.
AI could revolutionize how people manage and utilize their HSAs, leading to greater engagement in medical decisions and heightened financial literacy. The ripple effect would reach health care facilities and account administrators of all sizes, making billing and reimbursement faster and more accurate.
AI-Powered Optimization Tools for HSAs
A generative model with natural language processing capabilities can provide tailored savings suggestions to promote informed choices. Patients can initiate a back-and-forth in plain language — no need to navigate confusing user interface elements or enter code.
Personalized savings recommendations are among the most beneficial applications. While HSA funds do not expire even after years, those who strategically maximize contributions can improve their tax advantages while maintaining liquidity for investing. For those on tight budgets, every dollar matters.
As of 2025, the contribution limit is $4,300 for individuals and $8,550 for families. People do not necessarily have to reach this number to maximize their savings. They can source suggestions from AI to understand the best course of action for their financial situation and medical needs.
AI can also answer frequently asked questions, providing a dynamic information repository rather than a static page that quickly becomes outdated. Instead of leaning on billing departments and banks for answers, patients can obtain clear answers in seconds, potentially reducing reimbursement delays.
On the administrative side, professionals can use machine learning to automate contribution and expense tracking, better positioning them to identify eligible expenses, uncover trends and improve pre-tax benefits.
Integrating AI Into Health Care Platforms
Integrating AI into existing platforms is time-consuming because facilities must navigate regulatory hurdles. In addition to complying with HSA data sharing practices and HIPAA guidance, providers and banks must consider data privacy laws like the Gramm-Leach-Bliley Act and the General Data Protection Regulation.
Facilities should carefully limit the reach of their machine learning model if they work with third-party vendors that collect, process or disclose HSA information. To prevent tampering, access to the training dataset should also be restricted.
The information technology department may face technical challenges. Are their years-old legacy systems and modern AI hardware compatible and interoperable? Since machine learning technology evolves as it absorbs new information, who will ensure that user input does not affect its accuracy? Do they have a governance plan in place?
A carefully planned integration process is vital for ensuring data privacy and security and avoiding the fines and backlash of regulatory noncompliance. More importantly, it is key to empowering patients to take control of their health care finances.
AI Technology Can Revolutionize HSAs
With AI, health care facilities, account administrators and patients can achieve faster claims processing and reimbursements with fewer follow-ups. This technology empowers individuals to take control of their funds and become financially literate, benefiting everyone involved.
