A Health Savings Account or HSA is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a high deductible health plan - HDHP.

• Funds contributed to an account are not subject to federal income tax at the time of deposit. Unlike a flexible spending account - FSA, funds roll over and accumulate year to year if not spent.
• HSAs are owned by the individual, which differentiates them from company owned Health Reimbursement Arrangements - HRAs - that are an alternate tax deductible source of funds paired with either HDHPs or standard health plans.
• HSA funds may currently be used to pay for qualified medical expenses at any time without federal tax liability or penalty