Bank of America's health savings account business rose 34 percent with the addition of 50,000 new accounts last year, the firm announced Monday.

The growth is attributed to increases in account use among employees of existing corporate clients as well as new relationships with individuals and employers. The firm's health savings accounts have more than $300 million in account balances among almost 200,000 total accounts.

Bank of America's tally of customers for its health benefits accounts include more than 2,000 corporations and more than 600,000 individuals. Other parts of that business also include health reimbursement arrangements and flexible spending accounts.

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