doctor performing a routine check up on a child
A health savings account (HSA) is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a high-deductible health plan (HDHP). The funds contributed to an account are not subject to federal income tax at the time of deposit.
If you have a high deductible health insurance plan, you can contribute to your HSA tax-free. In addition, your money grows tax-free and you can withdraw tax-free if you use the money for eligible medical expenses.1
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