What is an HSA?

HSAs, or Health Savings Accounts, are accounts proposed by President George Bush and created by Congress in 2003 that allow people to save for health care costs by putting tax-free earnings into an account. People can use that money however they wish, as long as it is for qualified medical services. Moreover, people can carry over their HSAs from one job to another. Also like IRAs, HSAs are provided by companies, and people can choose with which company to open their HSAs. Moreover, people can decided how much money to put into their HSAs and what is done with the money in the account in terms of investment.

For more information about health insurance options or about a Texas health insurance plan that is right for you, contact Option 1 Health Insurance.