HSA plan : article Flashcards
1
Q
Health Savings Account (HSA) also known as
A
HDHP- High Deductible Health Plan
1
Q
hsa purpose:
A
open an HSA, a type of savings account that lets you set aside money on a
pre-tax basis to pay for qualified medical expenses (like some dental, drug, and vision expenses)
2
Q
how does HSA lower costs?
A
you enroll in an HSA-eligible plan, you may pay a lower monthly premium but
have a higher deductible (meaning you pay for more of your health care items and services before the insurance plan pays
3
Q
HSA-eligible plans must set a minimum deductible and a limit, or maximum, on out-of-pocket costs for both individuals and families
A
