Articles
Health savings accounts: Is an HSA right for you?
How do I find information about medical costs and quality so I can make informed choices?
Are health savings accounts similar to flexible spending accounts?
Content
Why were health savings accounts created?
Is a health savings account right for me?
What are some potential advantages of health savings accounts?
What are some potential disadvantages to health savings accounts?
Who can set up a health savings account?
What is a high-deductible health plan and how does it work?
How much money can I deposit annually into a health savings account?
Can my employer contribute to my health savings account, too?
Are health savings accounts similar to flexible spending accounts (FSAs)?
How do I find information about medical costs and quality so that I can make informed choices?
Can I withdraw money from a health savings account for nonmedical expenses?
Who can set up a health savings account?
Your employer may offer an HSA option, or you can start an account on your own through a bank or other financial institution. To qualify, you must be under age 65 and have a high-deductible health insurance plan.
If you have a spouse who uses your insurance as secondary coverage, he or she also must be enrolled in a high-deductible plan.
This high-deductible health plan must be your only health insurance. However, you can have dental, vision, disability and long-term care insurance.
