Though reports have shown the steady growth of health savings accounts, in actuality, few consumers use the health savings vehicle.

Just 8 percent of Americans have an HSA, according to a new survey from InsuranceQuotes.com. That's despite the fact that 50 percent say they recognize the benefits and would consider using one.

The reason for not doing so? Probably because most consumers remain confused over them: 86 percent say they don't understand HSAs, explaining they don't know how to qualify for one, which medical expenses can be paid for using the account or what the other financial benefits might be.

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