Health Savings Account (HSA)
A Health Savings Account, or HSA, is a tax-exempt account with a financial institution in which funds accumulate to pay for medical expenses. They were created in response to the rising cost of health care with the intent to give the consumer back the control of their health care costs as part of a movement towards consumer-driven health-care.
HSAs also give financial incentives for employers of all sizes to provide health insurance and individual consumers to have health insurance. HSAs allow you to enjoy tax reductions while having affordable health insurance premiums.