Health Savings Account Update (2008)

The Health Savings Account (HSA) was created by the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 signed by President Bush on December 8, 2003. HSAs are designed to help individuals save for future qualified medical and retiree health expenses on a tax-free basis.   Volume 63 Employment Benefit Plan Review No. 4, October 2008; Leah M. Singleton, Ann E. Murray