Accounts which allow employees to save a certain amount of money for future medical expenses on a tax-deferred basis. Employees that participate in a MSA are allowed to pay for medical expenses up to the point of meeting their insurance deductible. After the deductible is met, the employees' insurance will then cover any additional medical expenses. Any withdrawals made from a MSA for non-medical expenses are considered taxable. Health Savings Accounts were introduced in 2003 and have replaced Medical Savings Accounts.