A Health Savings Account (HSA) is actually a health insurance policy as well as a financial account. To establish an HSA, you must have a High Deductible Health Plan (HDHP). The HDHP is a low-cost insurance policy that has preventive care benefits and a high annual deductible. The HSA works like a checking account with a financial institution. You can write checks or use a debit card to withdraw funds from the account for paying any medical expenses not paid by the HDHP…
