HSA

Glossary \ Payroll Terms

Published On: Thursday July 23, 2020 04:29 AM

HSA IconHealth Savings Account (HSA) funds can be used for qualified medical expenses and are wholly owned by the employee. Those funds are not subject to certain taxes at the time of deposit. When they pair the HSA with a high-deductible health plan (HDHP), employees contributing to an HSA are given a certain level of personal control over their spending on health care costs.

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