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Health Savings Accounts
A health savings account (HSA) is a tax-exempt trust or custodial account that you set up with a qualified HSA trustee to pay or reimburse certain medical expenses you incur. You must be an eligible individual to qualify for an HSA.
 

 

 

Health Savings Accounts (HSAs)

Health Savings Accounts (HSAs) were created in 2003 so that individuals covered by high-deductible health plans could receive tax-preferred treatment of money saved for medical expenses. 

Generally, an adult who is covered by a high-deductible health plan (and has no other first-dollar coverage) may establish an HSA.

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