Health Savings Account
A health savings account is a medical savings account that is tax-friendly. This type of account is available to people in the United States that are enrolled in a high-deductible health plan. Money that is deposited into the health savings account (HSA) is not considered taxable income by the IRS. The IRS says which expenses are able to be paid by HSA distributions. Contact your health insurance provider to find out if your health plan qualifies as a high-deductible health plan.