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About: Health savings account     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : yago:WikicatTax-advantagedSavingsPlansInTheUnitedStates, within Data Space : dbpedia.org associated with source document(s)

Type: yago:Abstraction100002137yago:Cognition100023271yago:Content105809192yago:Idea105833840yago:Plan105898568yago:PsychologicalFeature100023100bankyago:WikicatTax-advantagedSavingsPlansInTheUnitedStates New Facet based on Instances of this Class

A health savings account (HSA) is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a high-deductible health plan (HDHP). The funds contributed to an account are not subject to federal income tax at the time of deposit. Unlike a flexible spending account (FSA), HSA funds roll over and accumulate year to year if they are not spent. HSAs are owned by the individual, which differentiates them from company-owned Health Reimbursement Arrangements (HRA) that are an alternate tax-deductible source of funds paired with either high-deductible health plans or standard health plans.