A Health Savings Account, or HSA, is a savings account that lets you set aside pretax money for medical costs. It’s handy to save for health care expenses and reduce your taxable income. To save to an HSA, you must enroll in a high-deductible health insurance plan, or HDHP, as defined by the government. HDHP are redefined each year by the IRS, which determines the minimum deductible and the maximum amount a plan holder can spend out of pocket.
Check out a great article about HSA’s here: