Your Compliance Edge

Medical Savings Accounts (MSAs)

This page features information on the following topics regarding Medical Savings Accounts (MSAs):

  • Overview 
  • Benefits of an Archer MSA 
  • Qualifying for an Archer MSA 
  • Contributions to an MSA 
  • Qualified Medical Expenses 
  • Reporting Contributions to an MSA 
  • Distributions from an MSA 
  • Balance in an Archer MSA 
  • Employer Participation 
  • Medicare Advantage MSAs 

Overview

An Archer MSA is a tax-exempt trust or custodial account that individuals can set up with a U.S. financial institution (such as a bank or an insurance company) to save money exclusively for future medical expenses. Archer MSAs were created to help self-employed individuals and employees of certain small employers meet the medical care costs of the account holder, the account holder's spouse, or the account holder's dependent(s).

You cannot be treated as an eligible individual for Archer MSA purposes unless:


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