Health Savings Account

A Health Savings Account (HSA) is a tax-advantaged savings account designed for individuals with high-deductible health plans. You can contribute pre-tax dollars to an HSA, which can then be used to pay for qualified medical expenses like doctor visits, prescriptions, and procedures. Funds in the account grow tax-free, and withdrawals for eligible health costs are also tax-free. The money can roll over year to year, and it's a flexible way to save for current and future healthcare costs. HSAs promote saving and managing healthcare expenses effectively while offering tax benefits.