NYT: The Benefits (and the Catch) of Health Savings Accounts

Devenir, an H.S.A. services firm, reports that the number of H.S.A. accounts increased by 16 percent year over year as of June 30, to more than 21 million. Assets held in the accounts grew 23 percent, to just under $43 billion. (Devenir’s data comes from a survey of 100 H.S.A. providers.)

Can I have an H.S.A. if I’m self-employed?

Yes. If you have an H.S.A.-compatible health insurance plan, you can set up a health savings account on your own. (Most H.S.A.-eligible plans are clearly labeled as such. If you’re not sure, ask your insurer.) The money you contribute is tax-deductible, even if you do not itemize deductions on your tax return. You can open an account through a bank or through a company that specializes in them. Devenir offers a search tool. Morningstar recently ranked accounts based on their fees and other criteria.