Published in Managed Care Business Week, January 17th, 2006
Health savings accounts, or HSAs, are bank accounts created by Congress as part of the Medicare Prescription Drug, Improvement and Modernization Act passed in January 2004 to help individuals pay for current and future medical expenses with pretax dollars, and possibly accumulate funds that may be used to pay for future medical expenses tax free. Industry and government consultants are touting HSAs as a way to make healthcare more affordable at the same time businesses and individuals are looking to reduce these rapidly rising expenses.
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