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How do I set up a health savings account?

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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This is video #43 of a one hundred insurance video series that The Murray Group is producing to provide insurance consumers with quick, valuable answers to their everyday insurance questions.

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Disclaimer: This article is for informational purposely only. There is no legal advice being suggested or proffered and the author assumes no responsibility or liability for the actions taken or not taken by the readers based upon such information.

created by Ryan Hanley