Insurance Glossary

Health Savings Account

Health

Definition

A tax-advantaged savings account available to individuals enrolled in high-deductible health plans, allowing pre-tax contributions for qualified medical expenses.

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Related Terms

High Deductible Health Plan
A health insurance plan with lower premiums and higher deductibles than traditional plans, often paired with a Health Savings Account (HSA) for tax-advantaged savings.
Accident Insurance
Insurance coverage for unforeseen bodily injury resulting from an accident.
Copayment
A fixed amount you pay for a covered health care service, usually when you receive the service.
Coinsurance
A cost-sharing arrangement where the insured pays a specified percentage of covered expenses after the deductible is met.
Out-of-Pocket Maximum
The most you have to pay for covered services in a plan year. After you reach this amount, the insurance pays 100% of covered services.
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