Health savings accounts are poised for tremendous growth, according to a new white paper that points to an underused feature: investing within an HSA for long-term tax-free growth.

The white paper, from HSA Consulting Services, LLC in conjunction with Avidia Bank HSA, said that while 20 million Americans are covered by an HSA-qualified plan that allows them to fund their healthcare with an HSA, very few people who have an HSA actually are aware of the feature, much less are using it to help pay for healthcare in retirement.

The paper cited research by Devenir Group that found only about 3 percent of HSA accountholders invest within that account—but those 3 percent among them account for 19 percent of total HSA assets. And that's up from just 12.8 percent in 2011.

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