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The owner of the account can use it to pay for qualified medical expenses. Unlike FlexibleSpendingAccounts (FSAs), which are owned by employers, individuals own HSAs. However, as these plans also have higher out-of-pocketcosts, they may not be a good option for people with higher health care expenses.
Naturally, employees may be under the impression that using an HSA to pay for health costs requires untangling similar red tape. The truth: HSAs are essentially financial accounts, and as such, they are as easy to use as a bankaccount. HSA accounts, on the other hand, belong to the employee, not the employer.
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