A Health saving Account (HSA) is a special kind of savings account designed for tax payers in the United States. This account has got many tax advantages which allow the tax payers deposit a portion of their pre-tax income. This amount can be used in the future for medical, long term care and retirement expenses.
The yardstick for procuring a HAS is a qualifying the high deductible health coverage. HSAs are moveable and handy. One can keep the account irrespective of their location. It is also possible to save over a period of time. The money in these accounts can be used for any kind of medical expenses right from dental care to over -the -counter medication.
HSAs were introduced as a part of the Medicare Prescription Drug , Improvement and modernization act . All these accounts are important component of Consumer Driven Health Plans. HSAs are the best alternative to many traditional health saving accounts out there.
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