UMB Healthcare Services said it has surpassed $1 billion inhealth savings account deposits and assetsafter growing 36 percent in the past year.

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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.

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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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“We are encouraged by the continued adoption and acceptance ofHSAs as a meaningful component of managing health care costs forboth employers and individuals,” UMB Healthcare CEO Dennis Triplettsaid in a statement.

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UMB also said it had a big boost in the number of benefits cardsit provides for flexible spending arrangements, healthreimbursement arrangements and HSAs. At 2014 year-end, cardsnumbered more than 4.3 million, up from 3.6 million cards atyear-end 2013, UMB said.

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UMB was one of the first to get involved when HSAs first hit themarketplace more than a decade ago, and are now one of the leadingproviders of services in the marketplace.

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“This is an exciting time at UMB Healthcare Services as wecontinue to grow and enhance our HSA offering, while alsodeveloping leading health care payment solutions,” Triplett said.“We have been at the forefront of this industry and continue toinvest in the technology and expertise to provide our customerswith custom solutions for their health care payment needs.”

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