Health Savings Accounts have been in the news for the past couple of years.  Touted as the potential savior product of the health insurance industry, they have been slow to gain traction.  Legislature changes made in December of 2006, have helped make the plans a better option for individuals and businesses.

As a potential cost saving option for health insurance, it is important that the public gain a clear understanding of what a Health Savings Account is and isn’t.

A Health Savings Account (HSA) combines high deductible health insurance with a tax-favored savings account. Money in the savings account helps pay the deductible. Once the deductible is met, the insurance starts paying. Money left in the savings account earns interest and is yours to keep.

A Health Savings Account Tutorial

What does it offer?

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