Health savings accounts (HSAs) are like personal spending accounts, but the money in them is used to pay for eligible health care expenses.

They were created in 2003 to help individuals and families offset the growing costs of healthcare.

They help you save money in three key ways:

1. Contributions to an HSA are not taxed,

2. Funds in an HSA grow tax-free (whether they are saved up or put into an investing account)

3. Distributions for qualified medical expenses are not taxed.

That's more money in YOUR pocket instead of Uncle Sam's!