health savings account
Tax-advantaged medical fund
A health savings account is a tax-advantaged account for paying medical expenses, available to people enrolled in high-deductible health insurance plans.
Contributions reduce taxable income, and withdrawals for qualified medical costs are tax-free.
Funds roll over year to year and can be invested.
Often abbreviated HSA.
- debit cardPayment from checking account
- tax deductionPermitted income reduction
- copaymentsPatient's portion of charges
- medical expensesFees for treatment
- premium paymentsRecurring insurance charges
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- Tax-Free Investmentsmunicipal bonds, state bonds, Roth IRA
- job perkssalary, perks, pension plans, 401k, benefits
- savingspiggy bank, emergency fund, rainy day fund, bank deposit, reserve fund
- employee benefitspension, 401k, 401(k), retirement, vacation
- tax-free incometax-free income, non-taxable income, non-taxable, tax-exempt, Roth IRA
- compensationpay, salary, income, wage, bonus
health savings accountflexible spending account
Pretax account for health costs
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Guaranteed medical access nationwide
Medicare · Medicaid · socialized medicine · NHS · public health insurance
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