What is a Health Savings Account?
What is a health savings account? A health savings account is a medical savings account with tax benefits, which is available to taxpayers in the United States. These medical plans are the least expensive in comparison to all others available.
HSA banks give individuals the option to save money, which will help them pay for their current and future medical bills and the money saved in the health savings accounts banks, is totally tax free.
Businesses can also open health savings accounts for their employees. Most HSA banks provide online access to the accounts, which enables you to keep tabs on your medical expenses.
The savings in these accounts can be utilized for annual medical physicals, prescriptions, over the counter medicines, health care products, dental care, eye glasses and laser eye surgery to name just a few.