What is an HSA?
Career: Hsa
HSAs, or Health Savings Accounts, are tax-advantaged savings accounts designed to help individuals save money for qualified medical expenses. They are typically available to people who have high-deductible health insurance plans. Contributions to an HSA are tax-deductible, and both the growth of the funds and withdrawals for eligible healthcare expenses are tax-free. HSAs can be used to pay for a wide range of medical costs, such as doctor visits, prescriptions, and certain over-the-counter items. Unused funds roll over year to year, making them a useful tool for long-term health savings.