October 5, 2006 5:44 AM
What Are Health Savings Accounts (HSA)?
Health Savings Accounts (HSAs) are accounts to which individuals, family members and employers can make tax-deductible cash contributions. These funds can then be withdrawn to cover qualified medical expenses. Unused balances roll over from year to year.
These new tax favored accounts were created by the Medicare Prescription Drug Improvement and Modernization Act of 2003.
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