This article explains the workings, qualifications, and tax benefits of each with a side-by-side comparison chart of the two programs.
Congress created HSAs as a way for individuals with high-deductible health plans (HDHPs) to save for medical expenses that are not covered by insurance.
The recently passed American Rescue Plan Act (ARPA) includes a provision for the federal government to pick up the cost of COBRA health coverage for employees’ involuntary termination of their employment or reduction of hours subject to certain qualifications. What is COBRA? COBRA is the acronym for Consolidated Omnibus Budget Reconciliation Act, which was passed […]