Business, Legal & Accounting Glossary
A medical savings account that earns interest that is tax-deductible. An Archer MSA, named for the congressman who sponsored the act creating this type of account, may be used only for medical expenses. Penalties and back-taxes may be assessed in the event of Archer MSA funds being used for non-medical purposes.
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This glossary post was last updated: 13th November, 2021 | 0 Views.