Posted: February 20th, 2022
Health Care Savings Accounts
They refer to accounts set aside for payment of health care charges. The accounts are similar to general savings; however, for an individual to be suited for an HSA, they must have a high-deductible plan insurance cover (Berchick et al., 2019). HSAs are essential as they help individuals keep money for health purposes, ensuring continuation of personal projects without interference. Many individuals advise others to open HSA to prepare for adverse conditions. For services that insurances cannot cover, individuals can use the money saved.
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