Health Savings Accounts were created so that individuals covered by high-deductible health plans could receive tax-preferred treatment of money saved for medical expenses. Generally, an adult who is covered by a high-deductible health plan (and has no other first-dollar coverage) may create an HSA. The actual health insurance plan will dictate whether it qualifies for this special tax treatment. For simplified IRS rules governing how to set up and fund an HSA, click on the button below.