J.P. Morgan Health Savings Account Snapshot Shows Consumer Contributions Reach Highest Levels in Eight Years

  J.P. Morgan Health Savings Account Snapshot Shows Consumer Contributions
  Reach Highest Levels in Eight Years

   Healthcare Reform, Rising Costs Prompt Higher Contributions; J.P. Morgan
         Exceeds One Million Health Savings Accounts Under Management

Business Wire

NEW YORK -- February 20, 2013

As national healthcare reforms take effect and costs continue to climb,
consumers are getting wiser about medical savings, according to J.P. Morgan’s
(NYSE:JPM) fourth annual health savings account (HSA) program snapshot
released today.Higher deductibles, rising healthcare costs and continued tax
benefits have spurred HSA growth. J.P. Morgan currently manages more than one
million accounts - the largest pool in eight years.

J.P. Morgan expects that the clarity around healthcare reform will continue to
drive demand for HSAs across all segments of the market, which should continue
into 2014. Employers will take a much more active role in educating employees
on the long-term value of these accounts.

The 2012 HSA program snapshot report provides a transparent view of HSA usage
patterns and trends among JPMorgan Chase HSA account holders. The report also
provides first-hand insight into how HSAs have become an integral part of
helping consumers save and pay for medical expenses.

2012 highlights include:

  *The average accountholder is saving approximately $500 in taxes annually
    (assuming a 28 percent federal income tax rate). Average balances are also
    increasing by approximately $500 per account per year an account is open
  *The average balance in 2012 for new HSA accounts rose to its highest level
    in eight years growing two percent from 2011 to $1,009
  *The average HSA balance in 2012 was $1,736 – up six percent from 2011
  *The average account contribution in 2012 was $1,800 while the average
    distribution was $1,417, resulting in 71 percent of accountholders
    contributing more than they spent last year
  *On average per month in 2012, 66 percent of accounts made contributions
    and 43 percent of accounts made a distribution
  *Total investment program balances grew 31 percent in 2012, up more than
    177 percent since 2009

J.P. Morgan administers HSA programs in conjunction with many of the largest
health insurance companies in the United States as well as Fortune 500
companies, small businesses and individuals across the nation. For more
information about J.P. Morgan’s HSA Program, please visit
www.jpmorgan.com/hsa.

A full copy of J.P. Morgan’s HSA Program Snapshot is available at
www.jpmorgan.com/visit/hsasnapshot. The data was captured between January 1
and December 31, 2012.

About J.P. Morgan’s Corporate & Investment Bank

J.P.Morgan’s Corporate & Investment Bank is a global leader across banking,
markets and investor services. The world’s most important corporations,
governments and institutions entrust us with their business in more than 100
countries. With $18.8 trillion of assets under custody and $366 billion in
deposits, the Corporate & Investment Bank provides strategic advice, raises
capital, manages risk and extends liquidity in markets around the world.
Further information about J.P. Morgan is available at www.jpmorgan.com.

Contact:

JPMorgan Chase & Co.
Jessica Francisco, +1 212-270-1719
jessica.francisco@jpmorgan.com
 
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