A type of savings account that allows you to set aside money on a pre-tax basis to pay for qualified medical expenses. A Health Savings Account can be used only if you have an HSA Plan (sometimes referred to as a High Deductible Health Plan or HDHP). These HSA plans don’t share any of the medical costs until the deductible is met. They tend to have lower monthly premiums and higher deductibles. By using the untaxed funds in an HSA to pay for expenses before you reach your deductible and other out-of-pocket costs like copayments, you reduce your overall healthcare costs. HSA funds roll over year to year if you don’t spend them. An HSA may earn interest. You can open an HSA through your bank or other financial institution.