What is an HSA (Health Savings Account)?

An HSA is a tax-advantaged account available to people with high-deductible health plans (HDHPs). Contributions are tax-deductible, growth is tax-free, and qualified medical withdrawals are tax-free — making it uniquely triple-tax-advantaged. In 2026, individuals can contribute up to $4,300 and families up to $8,550. After age 65, you can withdraw for any reason (paying ordinary income taxes), making it function like a traditional IRA.