Health savings account model is a kind of savings account, which helps individuals save medical expenses for themselves, their spouses and dependent children. Health savings accounts can be opened in banks, credit cooperatives, insurance companies and other approved companies to save medical expenses in the United States. The account is owned by the individual who created it, and can be used for current and future medical care expenses, and helps to avoid unexpected or high medical expenses.
Benefits of a health savings account:
1. It can be used for many medical expenses, including dental and mental health medical projects. What expenses are included and what are not included can be viewed in official website, State Taxation Administration of The People's Republic of China.
2. Other people can also save money in it. Your employer, relatives or anyone can deposit money into your health savings account except yourself.
If you have your own health savings account, the money in it can also be used to pay for the medical expenses of your spouse and children under 26, as long as they are registered as dependents.
4. The deposit will not be emptied every year, and the unused balance will be automatically included in the next year, so there is no need to worry about the loss if it is not used up.