What is a Health Savings Account (HSA) plan?
A Health Savings Account is a bank account held by a bank or custodian that can be used to pay for medical care. Money may be deposited into the account by individuals and/or employers on a tax-free basis and used to pay for qualified medical services. In order to open and contribute to a Health Savings Account, an individual must be covered by a high-deductible health plan that meets certain government-mandated requirements.
