Health Savings Account in the United States
Other Popular Tax Concepts
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- Tax Code (sometimes, including Health Savings Account)
- Income Tax (sometimes, including Health Savings Account)
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- Income Tax Law (sometimes, including Health Savings Account)
- Taxation (sometimes, including Health Savings Account)
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- Types of Taxation (sometimes, including Health Savings Account)
Concept of Health Savings Account (hsa) in Health Insurance Law
In this context, the following is a definition of Health Savings Account (hsa): The Medicare bill signed by President Bush on Dec. 8, 2003 created HSAs. Individuals covered by a qualified high deductible health plan (HDHP) (and have no other first dollar coverage) are able to open an HSA on a tax preferred basis to save for future qualified medical and retiree health expenses. Additional information about HSAs can be found on the U.S. Treasury Web site: http://www.treas.gov/offices/public-affairs/hsa/.
Health Savings Account (HSA) in Health Care Law
A definition of Health Savings Account (HSA) is available here: A tax-exempt savings account that can be used to pay for qualified medical expenses. Individuals can obtain HSAs from most financial institutions, or through their employer. Both employers and employees can contribute to the plan. To open an HSA, an individual must have health coverage under an HSA-qualified high-Deductible health plan.