savings account for paying medical expenses that is available to consumers with high-deductible health insurance plans.Unlike a flexible spending account, an HSA has no deadline for spending the funds and money can be held for years. It can even be stashed away for health care costs in ...
There are ways to save formedical costsahead of time. A health savings account (HSA) might help you use pretax dollars to save for qualified health care expenses. And, in addition to saving for health care expenses, an HSA could help you offset your taxable income. You may even be able...
A health reimbursement account or arrangement (HRA) is true to its name: Your employer funds the account so you can reimburse yourself for certain medical, dental or vision expenses. As an account-based health plan, an HRA can help you stretch the value of your health care do...
If you’re enrolled in a high-deductible health plan, you may have been offered the option of an HSA. So what is an HSA? It’s a Health Savings Account. It’s designed to help you pay for health care, but it can also be a great way to plan for the future. In this article, ...
The health care reform law, now frequently referred to as the Affordable Care Act (ACA), comprised of the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act, has now been with us for two years. Some of its provisions are in full force and ...
If you’re enrolled in a high-deductible health plan, you may have been offered the option of an HSA. So what is an HSA? It’s a Health Savings Account. It’s designed to help you pay for health care, but it can also be a great way to plan for the future. In this article, ...
Is an HSA worth it? Generally, if you're younger and/or healthier, an HSA could definitely be worth it. What's in it for you is major healthcare coverage, potentially lower insurance premiums, and a tax-deferred account that can grow over time. Plus, you're being tax smart by using...
Another type of FSA is adependent-care flexible spending account, which is used to pay for child-care expenses for children age 12 and under and also can be used to pay for the care of qualifying adults, including a spouse, who can't care for themselves and meet specific Internal Revenue...
Understanding Health Savings Accounts (HSAs) Ahealth savings account (HSA)is a tax-exempt savings account that is available only to people who have high-deductible health insurance plans. The money in an HSA can be used only to pay for qualified medical expenses. If the money is s...
A health reimbursement arrangement (HRA) is an employer-funded plan that reimburses employees for medical expenses and, sometimes, insurance premiums.