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Qualified Medical Expenses

Costs for medical care that can be paid for with pre-tax money from certain health savings accounts or deducted from taxable income.

Internal Revenue Code of 1986

The official collection of tax laws in the United States, managed by the Internal Revenue Service (IRS).

Health Savings Account (HSA)

A special savings account where you can put money aside, tax-free, to pay for qualified medical expenses, usually paired with a high-deductible health plan.

Flexible Spending Arrangement (FSA)

An employer-sponsored benefit that allows employees to set aside pre-tax money to pay for certain out-of-pocket health care or dependent care costs.

Health Reimbursement Arrangement (HRA)

An employer-funded plan that reimburses employees for out-of-pocket medical expenses and sometimes for health insurance premiums.

Sales and Use Tax

A tax added to the price of goods and services at the point of sale, collected by state or local governments.

Archer MSAs

Medical Savings Accounts created for self-employed individuals and small businesses, similar to HSAs but phased out and replaced by HSAs for new accounts.