A Health Savings Account (HSA) is:
- A tax-free savings account that is used to pay for qualified and routine healthcare expenses with tax-free funds with no annual “use-it-or-lose-it” provisions
- An account that can be funded by a company, an individual, or both
- An individually-owned account (similar to an IRA) that always belongs to the individual, regardless of who the employer may be
- An account that must be used in conjunction with a High-Deductible Health Plan (HDHP)
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