A Health Savings Account (HSA) is a tax-advantaged account created for or by individuals covered under high-deductible health plans (HDHPs) to save for qualified medical expenses. Contributions are made into the account by the individual or their employer and are limited to a maximum amount each year.
The contributions to an HSA are invested over time and can be used to pay for qualified medical expenses, such as medical, dental, vision care and prescription drugs.