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Health Savings Account (HSA)

Refers to a tax-exempt account that employers can make available to employees to pay for current or future medical expenses. Individuals can also obtain this tax-exempt account from financial institutions. HSA's require individuals to have health coverage under a HSA-qualified high deductible plan.

Transitional Coverage

If an individual or employer changes their insurance provider, the new provider will often offer transitional coverage for those currently in treatment. These programs generally…