Definition of health savings account in US English:

health savings account

noun

  • A savings account used in conjunction with a high-deductible health insurance policy that allows users to save money tax-free against medical expenses (abbreviation HSA).

    • ‘It would cover only seniors without private prescription drug insurance, while retaining the bill's authorization of private health savings accounts.’
    • ‘Personalized health savings accounts, homeownership accounts, education accounts, and other instruments would also expand individual autonomy and responsibility.’
    • ‘This particular speech dedicated wholly to his ideas on health care, trying to flesh out some ideas that he has, like expanding health savings accounts, medical liability reform, things like that.’
    • ‘But they also make the point that the president did try to offer some new initiatives on things like health care, a health savings account, during his convention.’
    • ‘As for reducing the incentive for employers to provide health insurance, I guess that the ensuing loss of health coverage would - among other things - increase demand for tax-free health savings accounts?’
    • ‘More than that, he has championed bold policies like health savings accounts and Social Security reform.’
    • ‘In May, the House passed a bill that would let employees who participate in health care flexible spending accounts roll over up to $500 in unused funds each year or transfer the money to a health savings account.’
    • ‘Whether by employer or government contributions, every family or individual would be given a yearly stipend to manage as a health savings account.’
    • ‘The GOP calls for the option of ‘personal retirement accounts’ in Social Security, health savings accounts, and tort reform to come to the aid of small businesses.’
    • ‘His health savings account requires insurance plans with high deductibles, which undermines the goal of preventive care.’
    • ‘And instead of expanding government spending on and control of healthcare, he will urge Congress to allow individuals to create tax-efficient health savings accounts to cover medical costs.’
    • ‘If we believe our own propaganda, then we want the patient in full command of the money decisions, as with health savings accounts, because this will produce high demand for our services.’
    • ‘If they want low-deductible policies, they will have to pay more based on their actual risks and/or save for their additional expenses in their health savings accounts.’
    • ‘I like the idea of health savings accounts and think they're the one idea I've heard of to keep costs down.’
    • ‘One option is the relatively new health savings account.’
    • ‘To improve health care in America, we need to expand the use of health savings accounts.’
    • ‘I was pleased to sign a bill that confronts costs and creates choice by giving Americans the option of health savings accounts.’
    • ‘And starting this year, millions of Americans will be able to save money tax-free for their medical expenses, in a health savings account.’
    • ‘As the annual scramble to pick a company-sponsored health plan gets under way, there's a new twist on the insurance side of things - the health savings account.’
    • ‘Then you can take the rest of that money, the money the employer has saved, and give it tax free to the employee, in a health savings account, for them to use to pay for the deductible.’