Health Savings Account (HSA)
A tax-advantaged savings account available to people enrolled in a high-deductible health plan (HDHP). You can contribute pre-tax dollars, the money grows tax-free, and withdrawals for qualified medical expenses are also tax-free. Unused funds roll over year to year and the account is yours even if you change jobs.
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Disclaimer: This glossary entry is for informational purposes only and does not constitute financial or insurance advice. Consult with a licensed insurance professional for personalized guidance. GuardianChoices may earn affiliate commissions from links on this site — see our advertiser disclosure.
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