What is an Archer MSA?
The Archer MSA is a program established in 1996 by the Health Insurance Portability and Accountability Act (HIPAA) which is very similar to the HSA. The main differences between these two accounts include: • Contribution limitations are up to 100% for the HSA; MSAs limit those contributions to 75% for families and 65% for individuals. • HSAs allow both employer and employee to contribute in the same year; MSAs require that only one party contribute during a calendar year. • At age 65 funds in an HSA can be used for any health insurance premiums, except Medicare supplemental policies. The MSA only allows this while an individual is receiving unemployment or while receiving COBRA continuation benefits.
