What is a Health Savings Account (HSA)?

A few years back, I moved from a traditional PPO health insurance plan to a high deductible health plan (HDHP) during open enrollment period. Why? I’m young, healthy, and I haven’t been to the doctor more than a few times in the last few years (knock on wood). As such, a HDHP offers me lower premiums than a traditional health insurance plan. That was a huge selling point, but the other big selling point of the HDHP was the access it permitted to the HSA it is paired with (which my employer contributes to). HSA’s are a key component to What is a Health Savings Account (HSA)?

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