Health Savings Accounts (HSAs)

All about Health Savings Accounts

Health Savings Accounts (HSAs) were created in 2003 so that individuals who are enrolled in a high-deductible health plans could put aside funds, pre-tax, for use on eligible medical expenses as outlined by the IRS.  Very generally, an adult who is covered by a high-deductible health plan (and has no other first-dollar coverage) may establish an HSA. There are a number of other items that must be considered when establishing an HSA including the election status of an eligible spouse or domestic partner.

Other helpful information about Health Savings Accounts

 Along with the resources on our website and the staff at myCafeteriaPlan, the IRS has a number of tools and publications that can be helpful.