Health Savings Accounts: A Primer, by Jennifer R. Noel*


In the Medicare Prescription Drug, Improvement, and Modernization Act of 2003, Congress permitted the creation of Health Savings Accounts (“HSAs”) by adding section 223. In Notice 2004-50 and Rev. Rul. 2005-25, the Service

provided further guidance on the requirements and administration of HSAs. Most recently, in the Health Opportunity Patient Empowerment Act of 2006 (included in

the Tax Relief and Health Care Act of 2006), Congress significantly expanded the attractiveness of HSAs. The discussion below is based on the law in effect following

the 2006 legislative changes and includes the 2007 inflation-adjusted amounts provided in Rev. Proc. 2006-53.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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