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Health Savings Account (HSA)

Refers to a tax-exempt account that employers can make available to employees to pay for current or future medical expenses. Individuals can also obtain this tax-exempt account from financial institutions. HSA's require individuals to have health coverage under a HSA-qualified high deductible plan.

Coordination of Benefits

An administrative process through which insurance providers sort out how to cover treatments covered by multiple plans. The most common example of this type of…