Function

• HSAs work sort of like a savings account for medical expenses. With a health savings plan, you own and control the money in it, as opposed to your employer or insurance company doing so. HSAs, established in 2003, are part of a movement toward consumer-driven health care, according to MayoClinic.com.
  
  

Considerations

• HSAs are not for everyone. If you think you will need expensive medical care in the near future and would not be able to meet a high deductible, you may not want to go with an HSA. On the other hand, if you are in good health and want to save for the future with tax-free dollars, you might want to open an HSA.
  
  

Potential

• You would set up an HSA through your employer or on your own through your bank or other financial institution. The money you don't spend each year can roll over to the next year. The IRS sets limits on how much money you can contribute each year.