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A health saving account is one where someone pays a set amount monthly onto the account. This is then used if they need any medical treatment or operations so th cost is not so large at the end.

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Q: How does a health saving account work?
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What is a Healt Saving Account?

A health savings account is a federally-sponsored account where you can set aside money to cover health expenses. This has major tax advantages compared to just saving money in general. A health savings account is an account that you can put money into on a pre-tax basis. That money is then used for approved health needs, such as prescriptions and doctor's co-payments.


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