What Is a Health Savings Account?

January 25, 2017

  http://www.cbpp.org/research/what-is-a-health-savings-account?utm_source=CBPP+Email+Updates&utm_campaign=76fa0dee18-EMAIL_CAMPAIGN_2017_01_25&utm_medium=email&utm_term=0_ee3f6da374-76fa0dee18-43432073

Leading GOP alternatives to the Affordable Care Act (ACA) rely on Health Savings Accounts (HSAs), which do little or nothing to help the uninsured afford coverage but offer high-income people lucrative tax-sheltering opportunities.

Under current law, people in a high-deductible health plan - meaning a deductible of at least $2,600 for a family, which applies to virtually all services except preventive care - may establish an HSA to save for out-of-pocket health expenses.