A health savings account (HSA) is an investment vehicle from which individuals can withdraw funds to pay qualified medical expenses as defined by the Internal Revenue Code. Accumulated funds can be used to pay current medical expenses or can be saved for medical expenses incurred in the future. The account can be set up by an employee in conjunction with his or her employer, but may also be set up by individuals through participating insurance companies and banks. To participate, an individual must have a high-deductible health insurance plan as their only form of health insurance and must not be eligible for Medicare. Generally, a high-deductible health care plan is one with at least a $1,000 deductible for an individual or $5,000 for a family. Participants contribute to the HSA and pay a premium for the high-deductible medical insurance, which is usually lower than the premium...