What is an HSA health plan?


Quick Answer

A HSA health plan is a health insurance plan that has a health savings account, or HSA, that accompanies it. The insurance and the HSA are separate but work together.

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Full Answer

HSA is a tax advantage savings account that helps cover costs not covered by a health insurance plan. Money is put into a savings account throughout the year to help cover deductibles and other medical expenses incurred in that calendar year. The amount of money deposited into the account is considered a tax deduction. There are limitations to what the funds can be used for without a penalty. The amount can be adjusted to fit the medical expenses the medical plan won't cover.

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