Medical Savings Account


Also found in: Dictionary, Medical, Acronyms, Encyclopedia, Wikipedia.
Related to Medical Savings Account: Archer Medical Savings Account, Flexible spending account

Medical Savings Account (MSA)

An Archer MSA is a tax-exempt trust or custodial account that you set up with a U.S. financial institution (such as a bank or an insurance company) in which you can save money exclusively for future medical expenses. To patrticipate in an Archer MSA you must be either self-employed or an employee of an eligible small employer. MSA contributions are deductible, subject to limits, as an adjustment to income.
References in periodicals archive ?
After having been told by my primary care physician that I needed to have a couple of tests run at a hospital, I explained to him about my medical savings account and inquired about the cost of the tests.
introduced legislation to allow employers to set up tax-preferred medical savings accounts for their employees.
After having been told by my primary-care physician that I needed to have a couple of tests run at a hospital, I explained to him about my medical savings account and inquired about the cost of the tests.
Medical savings accounts, by their very nature, put costs back into the negotiation phase between patients as customers and physicians, hospitals, and providers (please see Figure 4).
In fact, the general manager of the motorcycle apparel maker wanted his company to be the first in California to offer medical savings accounts to employees.
He said the ad failed to make disclosures in four areas - there were no details on eligibility requirements, the IRS has made no findings on several key issues, setting up a high-deductible health-coverage policy does not automatically establish a medical savings account, and that the state had not formally approved the program.
By combining the FlexMSA(R) Medical Savings Account offered by FBSC with National Health's HealthVIP(TM) Discount Healthcare Benefits Program, the two companies aim to provide a solution that meets the healthcare demands of small businesses and self-employed individuals alike.
Golden Rule pioneered the Medical Savings Account, predecessor to the HSA, 12 years ago and began offering HSAs as soon as the law allowed on January 1, 2004.
In response, Blue Cross and Blue Shield of Minnesota (Blue Cross) is now offering MSA Blue, a health plan option for small businesses that combines a high-deductible health benefit plan with an interest-bearing, federally qualified medical savings account.
emphasized that ``we have agreed to a test and not a movement toward a whole medical savings account insurance program.
Form 5498-MSA, Medical Savings Account Information, for trustees to report MSA contributions.
Form 5498-MSA, Medical Savings Account Information: This form was developed for use by MSA trustees or custodians to report contributions, rollovers and fair market value information.

Full browser ?