A Health Savings Account (HSA) gives you a new way to save, manage, and pay for current and future healthcare costs. It is a powerful option that puts you in the driver's seat of your healthcare money. A HSA is a tax-advantaged interest-bearing checking account that is paired with a High Deductible Health Plan (HDHP). To be eligible to open a HSA, you must be enrolled in a HDHP, not covered by Medicare, not covered by another health care insurance plan, and not be a dependent on someone else's tax return.