Health Savings Account or HSA is a type of bank account that you contribute to with pre-tax dollars and grows tax-deferred. The only catch is that you must use the funds on approved health and wellness related products.
You can set an HSA up with many health insurance carriers as well as most local and national banks. The only caveat is that you must have an approved high-deductible health plan in order to open a health savings account.
Watch this video “How do I set up a health savings account?” for more details:
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created by Ryan Hanley