What is Medical savings account (MSA)?
Medical savings account refers to a type of account funded by employees and used for paying medical bills.
Hire with remarkable speed and efficiency
Applicant Tracking, Recruitment Marketing, Sourcing and Talent CRM software are powerful alone, but unstoppable when used together!
STREAMLINE YOUR HIRING!
Medical savings account definition (MSA)
Medical savings account refers to a type of account funded by employees and used for paying medical bills. Deposits made into the account are typically tax-deductible.
Medical savings accounts must be paired with a high-deductible health plan (HDHP) and are generally used by self-employed workers. Money left in the medical saving account can be withdrawn but will be taxed. The medical savings account has largely been superseded by the health savings account (HSA).