Archer Medical Savings Account


Also found in: Acronyms.

Archer Medical Savings Account

An account into which one makes tax-deferred contributions that can be used for present and future medical expenses. An Archer MSA is used in conjunction with an insurance policy with a high deductible. An Archer MSA may be used in order to offset the high deductible on one's other insurance policy.

One does not pay taxes on withdrawals from a health savings account, unless one withdraws funds for a non-medical reason, in which case they are taxed as ordinary income. If one is under 65, there may also be a penalty associated with a non-medical withdrawal.
References in periodicals archive ?
8K * 'MSA' refers to Archer Medical Savings Accounts, which were authorized prior to 2004.
Study analyzes HSA growth, account characteristics
2010-23) implementing the Patient Protection and Affordable Care Act's prohibition on reimbursement of the cost of over-the-counter (OTC) drugs by health savings accounts (HSAs), health retirement accounts (HRAs), Archer medical savings accounts (MSAs), and flexible spending accounts (FSAs).
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A similar rule goes into effect January 1,2011, for health savings accounts and Archer medical savings accounts.
Federal agency implementation of the Patient Protection and Affordable Care Act
Effective in 2011, distributions from an HSA or Archer Medical Savings Accounts not used to pay qualifying medical expenses will be subject to an additional 20 percent tax.
Legislation includes important tax changes for businesses and individuals
Similar set-ups, the Archer Medical Savings Accounts, for instance, have been around for a while.
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HSAs were modeled after the Archer Medical Savings Accounts (MSAs).
Premera Expands Coverage of Cardiovascular Drugs in Washington
Archer Medical Savings Accounts are governed generally by IRC Secs.
Chapter 47: health savings account (section 223 plan)
Eligible accounts include traditional and Roth IRAs, health savings accounts, Archer medical savings accounts, Coverdell education savings accounts, and qualified tuition programs (529 plans).
IRS allows penalty-free withdrawal of stimulus payments from IRAs
By mid-2005, about one year after implementation, the plans had already surpassed the peak market penetration achieved over nearly 10 years by their predecessor, the Archer Medical Savings Accounts, said Karen Ignagni, president and chief executive officer of America's Health Insurance Plans.
Follow the leader: as Wal-Mart and other mega-employers offer health savings accounts, some industry experts believe it's only a matter of time until more companies jump on the HSA bandwagon
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