Health Savings Accounts: Medical IRAs

By | January 6th, 2004|

The Health Savings Account is a tax-sheltered savings account similar to the IRA, but earmarked for medical expenses. Like an IRA, deposits into health savings account are 100% tax-deductible for the self-employed and can be easily withdrawn by check or debit card. HSAs can accumulate from year to year, if you're healthy and don't need to use the money.