Financial Freedom: What is a health savings account?

© 2017-Newport News Times

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). To further qualify, one must not be covered by other non-HDHP health insurance, must not be enrolled in Medicare, and can’t be claimed as a dependent on someone else’s tax return.

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