Health Savings Accounts (HSAs)

You'll notice that many individual and family plans today have "HSA" or "HSA-compatible" in their name. This means that by enrolling in one of these plans you'd be eligible to open a Health Savings Account if you wish (it's optional). HSAs are a savings account to which you can make tax deductible contributions and from which you can make tax free withdrawals to pay for eligible medical, dental and vision expenses. Unused funds roll over from year to year accumulating with interest. You would be free to open a HSA account with any qualified trustee you wish and many major banks offer these accounts.

Click here to read my article that explains the concept further. Let me know if you have any questions.