UMB Healthcare Services said it has surpassed $1 billion inhealth savings account deposits and assetsafter growing 36 percent in the past year.
The number of its HSAs has now grown to more than 600,000individual accounts as of Jan. 31, up 34 percent from its nearly450,000 accounts a year ago, the company, a subsidiary of KansasCity-based UMB Financial Corp., said.
The figures from UMB is the latest example of the continuedgrowth of HSAs in the industry. According to midyear statisticsfrom investment consulting firm Devenir, HSAs have grown to anestimated $22.8 billion in deposits and assets and 11.8 millionaccounts as of June 30, 2014. Also last year, analysis from TheInstitute for HealthCare Consumerism, Consumerdriven and HSAConsulting Services predicted 50 million Americans will be coveredby HSA-qualified health plans by Jan. 1, 2019, and that HSAadoption will grow to 37 million.
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