Health Expense Accounts allow anyone to set aside funds to pay for out-of-pocket health care expenses, regardless of the type of plan you have.
Health Savings Accounts (HSAs) are tax-advantaged savings accounts designed to help people with High Deductible Health Plans* pay for medical expenses. The contributions are invested over time and can be used to pay for qualified medical expenses, which include most medical care such as dental, vision, and over-the-counter drugs.
There are contribution limits for HSAs. The 2019 HSA contribution limits are $3,500 for a self-only account and $7,000 for a family account.
*To have an HSA, you must be enrolled in a High Deductible Health Plan.