Health and Life Insurance

Answer: A - An HSA, or health savings account, may be used in conjunction with a high-deductible health insurance policy for the purpose of saving and paying for unreimbursed health care related expenses. Typically, the funds that are inside of a health savings account may be contributed on a pre-tax basis. In addition, the funds are allowed to grow tax free inside of the account and they may be withdrawn tax free if they are used for qualified medical expenses.