What is a Health Savings Account (HSA)?

/What is a Health Savings Account (HSA)?

Health Savings Accounts are savings accounts for individuals with High Deductible Health Plans (HDHP). These savings accounts allow you to pay for qualified out-of-pocket expenses with pre-tax dollars. Unlike a Flexible Spending Account (FSA), the funds in an HSA belong to you, not to your employer, and remain with you even if you change jobs. Funds in an HSA can grow, tax deferred and after age 65, you can withdraw HSA funds and they are only taxed as ordinary income.

2017-01-26T13:13:41-05:00