HSAs Vs. Other Medical Savings Plans
Health savings accounts are similar to medical savings account (Archer MSA) plans that were authorized by the federal government before HSA plans. HSAs can be used with some high-deductible health plans. HSAs came into being after legislation was signed by George W. Bush on December 8, 2003. The law went into effect on January 1, 2004.
HSAs differ in several ways from MSAs. Perhaps the most significant difference is that employers of all sizes can offer an HSA account and insurance plan to employees. MSAs were limited to the self-employed and employers of 50 or fewer people.
Read more about this topic: Health Savings Account
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