Is LyfeBank like an HSA?
The LyfeBank method is similar to an HSA but is much more flexible. For example, funds in an HSA can’t be used to pay insurance premiums and the HSA can only be used in connection with a high-deductible health insurance policy that meets certain guidelines. Unlike the HSA and the high deductible medical policy requirement, the LyfeBank HRA program can be used to pay premiums for any market approved medical, dental, vision, or long-term care policies.
