What is a Health Savings Account (HSA)?

Health Savings Account (HSA) is a tax-advantaged medical savings account you can contribute to and draw money from for certain medical expenses tax-free. HSAs can be used for out-of-pocket medical, dental, and vision. HSAs can’t be used to pay health insurance premiums.

HSA’s can only be used with “High Deductible Health Plans” that count as “Minimum Essential Coverage (MEC).”