New regulations are changing the way health savings accounts work. Previously, people could use money in the accounts to pay for over-the-counter medications along with prescription drugs. However, people will no longer be able to use funds from the accounts to pay for such goods as of next year.

Wageworks, a company that provides consumer-directed benefits, wants Congress to reconsider the new regulation. Among other things, the change will result in increased expenses for consumers. People save money with a HSA because they are allowed to contribute funds tax-free.

Wageworks CEO Joe Jackson says the new law will hurt consumers who are already struggling.

"Congress must act now to either repeal a policy that will result in costly, time-consuming and potentially harmful results, or act to delay it for up to two years to allow for an implementation that is more accommodating to the needs of consumers, pharmacies and drug stores, and less likely to incur unnecessary costs to the health care system," says Jackson.

For consumers looking for other ways to save money, they can search for affordable health insurance quotes online. Individual health insurance premiums can vary depending on the specific plan and condition of person being insured.  

Some employers offer their staff health savings accounts or high deductible health plans as a way to mitigate rising expenses. According to change:healthcare, a company that looks at healthcare cost transparency, 60 percent of employers plan to offer a CHDP next year.

Such plans offer some areas for increased savings. Prescription drug plans, for example, is an area where consumers stand to substantially save, according to change:healthcare.

Despite the cost savings, some employers experience obstacles getting employees to switch over to CHDP. Associate professor of healthcare management R. Lawrence Van Horn says with CDHP's, consumers are more likely to take control of their own health.

"The main challenge that employers have with moving to CDHP is educating employees and changing their mentality around the accountability - employees have to actually care about the healthcare costs they're generating, and make sound and wise purchases."

Consumers can also save when they purchase individual health insurance plans by ensuring they eat a good diet and get plenty of exercise. Those who are in overall good condition tend to require less medical attention. 

While most Americans have heard of healthcare reform, few say they know how it will affect them. A study conducted by the Employee Benefit Research Institute indicates that anticipated concerns over the new law vary depending on several factors, including political party.

According to the survey, less than 5 percent of respondents say they are extremely knowledgeable about the new laws. However, those who have a consumer-driven or a high-deductible health plan are more likely to say reform will make things more difficult for them financially.

EBRI Health Research and Education Program director Paul Fronstin says plan type plays a strong role in one's perspective.

"There is a strong difference between individuals who have traditional and consumer-driven health plans in terms of how they think the new health care legislation will affect them," says Fronstin.

High-deductible health insurance plans are popular with some people as the plan allows for lower monthly premiums in exchange for higher out-of-pocket expenses before coverage kicks in. People can also research affordable health insurance quotes online, and in the future, get policies through government exchanges.

The Birmingham YMCA has teamed up with the Lakeshore Foundation and the Levite Jewish Community Center to offer a weight loss program called Exercise is Medicine. With a doctor's prescription for a weight loss program, people can use funds from their health savings account for payment.

Birmingham YMCA director of community health initiatives says aims to improve fitness and communication between patients and doctors.

"Groundbreaking research has proven that exercise, at the correct intensity and duration, not only improves the quality of life," says Bundy. "It decreases the incidence of chronic conditions that surround inactivity such as obesity, hypertension, high cholesterol, type 2 diabetes and even some cancers."

Flexible spending accounts can help people save on medical expenses. The program works by allowing people to set aside money tax-free and apply the funds towards certain healthcare expenses. Some of the most common uses for the accounts are co-pays for doctor visits and prescription medications.

Many wellness advocates recommend getting regular exercise to improve and maintain good health.

With the economy still in a poor condition and healthcare costs growing faster than inflation, many Americans are looking for ways to save money. In addition to looking for affordable health insurance quotes, consumers may also want to consider health savings accounts.

The program allows people to put money aside tax-free for medical expenses. While the accounts have been around for several years, there are changes taking place. Healthcare supplier Perrigo is reminding consumers that most over-the-counter medications will no longer be eligible to be paid for with funds from the accounts. Such medicines will only be reimbursed if a prescription from a doctor is written.

To save money, the company is advising consumers to purchase healthcare necessities now. People have until the end of the year to purchase over-the-counter medical items and still be eligible for reimbursement.

There are other ways consumers can realize savings. Purchasing generic or store-brand items, using coupons and watching for sales are a few ways people can avoid paying full-price for some medical supplies.