Medical Savings Accounts
Archer Medical Savings Accounts (MSAs) were created to help self-employed individuals and employees of certain small employers meet the medical care costs of the account holder, the account holder's spouse, or the account holder's dependent(s).
A Medicare+Choice MSA is an Archer MSA designated by Medicare to be used solely to pay the qualified medical expenses of the account holder who is eligible for Medicare.
The Archer MSA, which was passed by Congress in 1996, was originally set to expire in December 2000, and has been extended. The MSA, however, has been largely eclipsed by the Health Savings Account (HSA).