Young Americans Lead in HSA Adoption But Carry Heaviest Economic Burden, HealthEquity Research Finds

Core Insights - The Healthcare Affordability Pulse survey reveals a generational divide in financial preparedness and workplace stress among employed Americans, with younger generations showing higher HSA adoption but also greater economic anxiety [1][2][3] HSA Adoption and Engagement - 56% of Gen Z and 50% of Millennials have Health Savings Accounts (HSAs), significantly higher than Gen X (35%) and Boomers (24%) [2] - Younger generations report a better understanding of their healthcare benefits, with 53% of Gen Z and 62% of Millennials stating they understand their benefits "very well" or "extremely well," compared to 47% for both Gen X and Boomers [4] Economic Anxiety and Financial Preparedness - Despite proactive healthcare savings, Gen Z reports the highest economic concern at 84%, with 36% having less than $500 available for unexpected healthcare expenses [2][5] - 79% of all respondents express concern about the overall economy, but Gen Z and Millennials are more likely to report that financial strain affects their workplace performance [6] Healthcare Spending Priorities - Gen Z is most likely to cut back on mental health services (46%) and preventive care (36%) when budgets tighten, while Boomers and Gen X are less likely to reduce healthcare spending [7][8] Financial Preparedness Among HSA Holders - HSA holders across all generations demonstrate stronger financial readiness for healthcare expenses, with 52% feeling prepared for routine healthcare costs and 29% having at least $5,000 in emergency reserves [8][9] Importance of Education and Employer Support - The research emphasizes the need for education and employer support to help individuals not only save but also feel more secure regarding their financial health, especially during open enrollment periods [10][11]