“Health care costs – particularly out of control prescription drugs costs – continue to hurt too many families. To bring down costs, consumers need more choice and more control over their care and coverage – and that’s why Health Savings Accounts (HSA) are such an important tool. Today, more than 20 million consumers are using HSAs, according to new research from AHIP. As policymakers take action to make coverage more affordable, HSAs must be a critical part of the solution.
What makes HSAs so useful and beneficial? The funds that go into and come out of an HSA are tax-free. Consumers can pay for certain medical expenses, like their deductible and copayments, with pre-tax or tax-deductible dollars. HSA tax savings help millions of hardworking families set aside money for medical costs, all while allowing them to stretch their budgets further.”
(AHIP.org, HSA’s Give Consumers Greater Control, Greater Savings.)