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A health savings account, or HSA, is a tax-advantaged savings account for paying medical expenses that is available to consumers with high-deductible health insurance plans.
An HSA can be a good idea if you like the idea of a high deductible health plan – it offers tax-free healthcare savings and potential employer contributions, and your funds roll over, so you don ...
Medical insurance jargon can be confusing, especially all the acronyms. We break down what an HSA is and how it can help you save on medical costs. This was originally published on The Penny ...
Health savings accounts are similar to medical savings account (MSA) plans that were authorized by the federal government before health savings account plans. Health savings accounts can be used with some high-deductible health plans. Health savings accounts came into being after legislation was signed by President George W. Bush on December 8 ...
If you qualify, a health savings account could help you to offset the cost of healthcare. An HSA provides a triple tax break -- you can contribute to it with pre-tax income, your savings grow...
The law expanded medical savings accounts, renaming them Health Savings Accounts and created tax incentives to encourage adoption of high-deductible health plans. Banks were empowered to create HSAs, which deliver tax-free interest to the holders, who can then withdraw money tax free to pay for qualified expenditures.