HSA stands for Health Savings Account. An HSA holds funds that are used to reimburse employees for qualified medical expenses. In 2017, if you have individual health coverage, you can contribute up to $3,400 for the year to it. If you have family health coverage, you can contribute up to $6,750 for the year to it. Learn more about HSAs from the IRS here.Updated September 26, 2017
This article provides general information and shouldn’t be construed as legal, benefits, or HR advice. Benefits and insurance regulations may change over time and may vary by location and employer size. So, please consult a licensed broker or appropriately certified expert for advice specific to your business’s benefits options.