A health savings account usually supplements one's current insurance coverage, but did you know that with some HSAs you don't have to have insurance coverage? Even if your employer drops your health insurance coverage you may still qualify for the benefits of a HSA.
Health savings accounts pay for medical expenses that your health insurance coverage typically does not pay for. Depending on the plan you choose, the money in a HSA is deposited either by you or an employer before it is taxed so it's like paying for out of pocket medical costs tax-free. In addition, with some plans you can earn interest on your money while it is sitting there waiting for you to use it.
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