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An HSA is a tax-advantaged account established to pay for qualified medical expenses for those who are covered under a qualified high deductible health plan. With money from this account, you pay for health care expenses until your deductible is met. Then, in accordance with the terms of your health care plan, your insurance company pays for covered expenses over the amount of your deductible. Any unused funds are yours to retain in your HSA and accumulate toward your future health care expenses or your retirement. |