Health Savings Accounts (HSA)

Business / Human Resources (HR) / Health Savings Accounts (HSA): A tax-free account that can be used by employees to pay for qualified medical expenses. Contributions do not have to be spent the year they are deposited. Money in the account earns interest and accumulates tax free, so the funds can be used now and in the future. If an employee leaves the job, he or she can take the account with him or her and continue to use it to pay for qualified healthcare expenses. To be eligible for a Health Savings Account, an individual must be covered by a High Deductible Health Plan (HDHP), must not be covered by other health insurance (does not apply to specific injury insurance and accident, disability, dental care, vision care, long-term care), is not eligible for Medicare and can’t be claimed as a dependent on someone else’s tax return.

Other Words for Health

Health Verb Synonyms: condition, fitness, trim, fettle, form, constitution
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Other Words for Savings

Savings Adjective Synonyms: resources, reserve, cache, hoard, nest egg
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Occupational Safety And Health Act (OSHA)

Business / Real Estate / Occupational Safety And Health Act (OSHA): Congress created OSHA under the Occupational Safety and Health Act, which was signed by President Richard M. Nixon on December 29, 1970. OSHAs mission is to prevent work-related injuries, illnesses an MORE

Occupational Safety And Health Act (OSHA) Of 1970

Business / Human Resources (HR) / Occupational Safety And Health Act (OSHA) Of 1970: A law setting forth standards that employers must comply with in order to provide working conditions that are safe and free from any health hazards for all employees. Additionally, the law also requir MORE

Nominal Accounts

Business / Accounting / Nominal Accounts: Accounts that are closed to a zero balance at the end of each accounting period: temporary accounts generally appearing on the income statement. MORE

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