More Banks Offer Health Savings Accounts To Pay Bills

Created in 2003, HSAs allow individuals and employers to set aside money before it's taxed to pay for doctor, hospital and other medical bills. Unlike flexible spending accounts, the money in HSAs can be rolled over year after year. The money earns interest or can even be invested in mutual funds and remains with the holder through job changes and retirement.

Having the money available allows individuals and employers to buy a less-costly, high-deductible health insurance policy to cover expenses once they exceed at least $1,000 for a single person and $2,000 for families. It can be a way for individuals to find more affordable health care for themselves and their families and can be an alternative for employers who want workers to share more of the ever-growing costs of health coverage.