A Health Savings Account (HSA) gives you more flexibility and control over health care costs. That's because it empowers you to make your own health care decisions. HSAs are available for people with high deductable health plans. HSA contributions are deductible, and the account earnings accumulate on a tax-deferred basis. Distributions from an HSA are tax-free if they are used for qualified medical expenses.
Publication 969 Health Savings Accounts and Other Tax-Favored Health Plans (PDF) can help you determine if you qualify.