What are the significant differences between Archer Medical Savings Accounts (MSAs) and HSAs?
HSAs are a significant expansion of the MSA program. Unlike MSAs, HSAs provide the following: • Everyone covered by a high deductible health plan (HDHP) is eligible to participate (includes all size employers, the self-employed, and individuals and families who are not self-employed). • Funding by the employer, employee, or both within the same taxable year. • Permanence and portability. • Customers can make larger contributions. • Customers enjoy broader deductible ranges.
