Window of Opportunity Can Quickly Close if CUs Wait Too Long to Offer HSAs
WEST PALM BEACH, Fla. -- The confidence in Health Savings Accounts being the next big thing since individual retirement accounts continued to build in 2006.
HSAs are tax-free savings accounts that can be used to pay for medical expenses including prescription and over-the-counter drugs incurred by individuals, spouses or dependents. These portable accounts are accompanied by high-deductible comprehensive insurance policies that cover preventive care and larger medical bills. Unused HSA money rolls over from year to year.