History of HSA: When Did HSA Start?

Health Savings Accounts (HSAs) were established in 2003 as part of the Medicare Prescription Drug, Improvement, and Modernization Act. They were created to help individuals save for qualified medical expenses on a tax-advantaged basis.

It wasn't until 2004 that HSAs became available to individuals who were enrolled in a high-deductible health plan (HDHP). Since then, HSAs have gained popularity as a way for people to take control of their healthcare costs and save for their future medical needs.

Health Savings Accounts (HSAs) were introduced in 2003 under the Medicare Prescription Drug, Improvement, and Modernization Act, designed to provide a smart way for individuals to set aside money for qualified medical expenses while enjoying tax benefits.