A type of savings account that lets you set aside money on a pre-tax basis to pay for qualified medical expenses.
A Health Savings Account (HSA) is an individually owned, tax – advantaged account you can use for your current or future IRS qualified expenses.
If you have a qualified high-deductible health plan – either through your employer, your spouse or one you purchased yourself – chances are you can open a HSA.
You can let your HSA balance keep growing tax-free, year over year, and use it to help cover your health care costs in retirement, including Medicare premiums.