Health savings accounts or HSAs were sidelined by the long healthcare reform debate, but now are becoming a big business for companies that know how to manage them.
HSAs are different from flexible spending accounts in that contributions follow someone for life and can be invested somewhat more creatively.
This theoretically makes these accounts a new asset-based business similar to what's already happened in retirement (IRAs) and education (529s) -- only focused on paying down healthcare expenses.
JPMorgan is getting so excited about the opportunity that it just put out an extensive report on how HSAs have become a $1 billion business for the firm.
While these tend to be small accounts, they can build up into appreciable AUM, especially for advisors who court them in bulk.