A Health Savings Account (HSA) combines a high deductible health insurance plan with a tax favored savings account. Money in the savings account can help pay for the deductible. Once the deductible is met, the insurance starts paying. Money left in the savings account earns interest and is yours to keep. Contributions to the HSA are tax deductible. When withdrawals are used to pay for qualified medical expenses including dental and vision, the withdrawals are tax free.A Health Reimbursement Arrangement (HRA) is an IRS approved, employer funded, tax advantaged employer health benefit plan that reimburses employees for out of pocket medical expenses. A health reimbursement arrangement is an excellent way to supplement health insurance benefits and allow employees to pay for a wide range of medical expenses not covered by insurance.