The-definition.com

Definition

Health savings account (HSA)

Health savings account (HSA) is a tax-exempt or custodial account established exclusively for the purpose of paying qualified medical expenses of the account beneficiary who is covered under a high-deductible health insurance plan.

Share it:  Cite

More from this Section

  • Company /corporation
    An organization of business or voluntary association of many persons who invest money/capital ...
  • Rollover
    Rollover is the extension of a maturing foreign exchange transaction or the extension ...
  • Loan workouts
    Loan workouts is the activity within a bank that focuses on delinquent loans and that ...
  • Bond covenant
    Bond covenant is a contractual provision in a bond indenture. A positive covenant requires ...
  • Tier 2 Capital
    Tier 2 Capital Comprises Property Revaluation Reserves, Undisclosed Reserves, Hybrid Capital, ...