Tweet This

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.

Excise Tax

A tax paid by the manufacturer or retailer of a good or service, as opposed to directly by the consumer (as in a sales tax).