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A health savings account is a tax-advantaged savings account combined with a high-deductible health insurance policy to provide an investment and health coverage.
The HSA is a Swiss-Army knife of tax-advantaged accounts, a financial tool for paying medical expenses with pre-tax dollars ... or saving for the long term.
HSA-qualified high deductible plans fit easily within the guidelines established by the ACA.
Both FSAs and HSAs are tax-advantaged accounts that allow people to save money to pay for qualified medical expenses, but they have several key differences.
Buying a reliable health insurance policy is just one step toward a financial strategy that can protect your health, save money, and invest for the future.