Medical Savings Accounts
Medical Savings Accounts (MSAs) are either tax-free or post-tax accounts which receive deposits of funds from employers or individuals that are used to pay for medical expenses. The MSA is attached to a high deductible insurance policy that is chosen by the individual. MSAs are little known because of political opposition, the desire of Congress to force the pooling of all health care dollars into HMOs, and a 1996 law enacting limited and restrictive MSA regulations which discourage marketing by insurers.
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