The IRS recently announced the health savings account rules and requirements for 2014. The HSA contribution limits and out-of-pocket maximums have been increased. 

A Health Savings Account, or HSA, is a financial account established by an individual or family to pay for HSA-qualified medical expenses. Individuals with an HSA receive a 100% income tax deduction on contributions they make annually.

The History of Health Savings Accounts, or HSAs, goes back to the 1980s and 1990s when Congress began discussing Medical Savings Accounts (MSAs)

In the 1980s and 1990s, Congress began discussing Medical Savings Accounts (MSAs) where any consumer could (1) pay for all medical expenses with tax-deductible dollars and (2) spend or save unlimited tax-advantaged amounts for current or future medical expenses.

Comparison charts provide an excellent way of summarizing complex information.  As a follow-up to yesterday's HRA case studies, check out this HRA, HSA, FSA, PRA comparison chart. It's a good summary of the key differences between the four primary types of health care reimbursement accounts and arrangements.