HSAs, explained

Everything you need to know about the health savings account that experts love

Maximize the benefits of your HSA.
(Image credit: iStock)

Many workplaces are in the thick of benefits enrollment, that annual time of headaches and hand-wringing when we pick medical plans, remind ourselves what deductibles are, and weigh the possibilities that the worst will happen against our hopes for the best. But as important as benefit choices are, it's tempting to gloss over the ones we don't understand. If you count health savings accounts among those mysteries, however, think twice before dismissing them. Here's what you need to know:

What is an HSA?

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Alexis Boncy is special projects editor for The Week and TheWeek.com. Previously she was the managing editor for the alumni magazine Columbia College Today. She has an M.F.A. from Columbia University's School of the Arts and a B.A. from the University of Virginia.