Frequently Asked Questions
How does the Health Savings Account differ from the older Medical Savings Account (MSA)?
Any under age 65 wage earner is eligible to have an HSA while only the self employed were eligible for the MSA (Medical Savings Account). The HSA allows an individual to carry over all unused deductibles to the next year or years. At age 65, all unused money in the HSA savings account can be converted into an IRA.
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