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What is an HSA? A Health Savings Account (HSA) is a special account owned by an individual where contributions to the account are to pay for current and future medical expenses. Has are designed to

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What is a health savings account?

A health savings account (HSA) is a tax-advantaged savings account that is used to pay for qualified medical expenses.

Who is required to file a health savings account?

Individuals who are enrolled in a high-deductible health plan (HDHP) and meet certain eligibility requirements are eligible to open and contribute to an HSA.

How to fill out a health savings account?

To fill out a health savings account, individuals need to open an account with a financial institution that offers HSAs and contribute funds to the account.

What is the purpose of a health savings account?

The purpose of a health savings account is to set aside tax-free funds to cover eligible medical expenses such as deductibles, copayments, and other qualified health expenses.

What information must be reported on a health savings account?

Information such as contributions, withdrawals, and account earnings must be reported on a health savings account.

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