More ACA plans qualify for HSAs, expanding tax-free health savings

Millions of Americans will have access to health savings accounts (HSAs) at the start of the new year.

People who purchase a “bronze” or “catastrophic coverage” policy through the Affordable Care Act (ACA) exchange or equivalent will be qualified to have an HSA, a benefit that was previously only available to high deductible health plans.

Kevin Robertson, the chief growth officer at HSA Bank, told Georgia Public Broadcasting that HSAs provide a way to save and pay for health care expenditures without having to pay taxes on the savings.

“HSAs are designed to pay for the health care expenditures that health insurance does not,” he said. “So for example, that could include deductibles, co-pays, out-of-pocket expenditures such as over-the-counter meds, dental, vision.”

HSA funds can be used for any member of a person’s immediate family, so spouses or children. Robertson said the average person spends about $3,000 a year to cover healthcare expenses.

“You can also invest those dollars,” he said. “That way you’re not solely getting a bank account interest rate.”

Of the 1.5 million Georgians enrolled in ACA plans through Georgia Access in 2025, 368,000 had “bronze” plans, according to GPB.