Individual Retirement Account
DescriptionAn individual retirement account is a form of "individual retirement plan", provided by many financial institutions, that provides tax advantages for retirement savings in the United States.
Flexible Spending Arrangements
A health care FSA (as opposed to a dependent care FSA) is an employee benefit that allows you to set aside money on a pre-tax basis to pay for medical expenses not paid by insurance.
Health Reimbursement Arrangements
An HRA is an employer-funded account from which employees are reimbursed for qualified medical expenses not covered by the employer's health plan.
An annuity is a series of payments made at equal intervals. Examples of annuities are regular deposits to a savings account, monthly home mortgage payments, monthly insurance payments and pension payments. Annuities can be classified by the frequency of payment dates.
A viatical settlement is the sale of a policy owner's existing life insurance policy to a third party for more than its cash surrender value, but less than its net death benefit. Such a sale provides the policy owner with a lump sum.
Health Savings Account
A Health Savings Account (HSA) is a tax-advantaged account created for individuals who are covered under high-deductible health plans (HDHPs) to save for medical expenses that HDHPs do not cover.