Bank of America’s health savings account business rose 34% with the addition of 50,000 new accounts last year, as it also integrated that business in its institutional retirement business.
That growth comes as the bank has seen health savings accounts attract the most growth of its health benefit plans. The firm’s health savings accounts currently have more than $300 million in account balances among almost 200,000 total accounts. Other parts of that business also include health reimbursement arrangements and flexible spending accounts.
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