Page 7 - Future Steps
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How Does an HSA Work? Eligible Examples
An HSA works in conjunction with your health plan coverage. Your Medical expenses: copays,
HSA dollars can be used to help pay the health insurance deductible coinsurance, and deductibles
and qualiied medical expenses, including those not covered by health Dental expenses: exams,
insurance such as dental and vision care. Any funds you withdraw for cleanings, x-rays, and braces
non-qualiied healthcare expenses will be taxed at your income tax rate,
plus 20% if you’re under 65. Vision expenses: exams,
contact lenses and supplies,
Maximum Contributions for the Plan Year eyeglasses, and laser eye
Coverage IRS Mandated Maximum Contribution surgery
Level Professional services: physical
Individual $3,400 therapy, chiropractic, and
Family $6,750 acupuncture services
Age 55+ Add an additional $1,000 to these amounts as a catch-up contribution!
Prescription drugs and insulin
HSA Eligible and Ineligible Expenses Over-the-counter healthcare
Funds withdrawn from your HSA are tax-free when used to pay for items: bandages, pregnancy
qualiied medical expenses as described in Section 213(d) of the Internal test kits, blood pressure
Revenue Service Tax Code. A list of these expenses is available on the monitors, etc.
IRS Web site, www.irs.gov in IRS Publication 502, “Medical and Dental Ineligible Examples
Expenses.” Babysitting
The list to the right provides examples of eligible and ineligible healthcare Cosmetic surgery
expenses. This list is not all-inclusive. Remember, the IRS may modify Funeral expenses
its list of eligible expenses from time to time. As always, consult your tax Hair transplant
advisor should you require speciic tax advice.
Health club dues
Insurance premiums
The HSA Plan and Copays Teeth whitening
Under the HSA plan, copays are listed for medical care such as physician ofice
visits, prescriptions, and hospital services. Please note these copays do not
apply, even for prescriptions, until the full deductible has been met.
Once you satisfy your full deductible, you will pay the copays listed in your plan
summary to access these services.
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An HSA works in conjunction with your health plan coverage. Your Medical expenses: copays,
HSA dollars can be used to help pay the health insurance deductible coinsurance, and deductibles
and qualiied medical expenses, including those not covered by health Dental expenses: exams,
insurance such as dental and vision care. Any funds you withdraw for cleanings, x-rays, and braces
non-qualiied healthcare expenses will be taxed at your income tax rate,
plus 20% if you’re under 65. Vision expenses: exams,
contact lenses and supplies,
Maximum Contributions for the Plan Year eyeglasses, and laser eye
Coverage IRS Mandated Maximum Contribution surgery
Level Professional services: physical
Individual $3,400 therapy, chiropractic, and
Family $6,750 acupuncture services
Age 55+ Add an additional $1,000 to these amounts as a catch-up contribution!
Prescription drugs and insulin
HSA Eligible and Ineligible Expenses Over-the-counter healthcare
Funds withdrawn from your HSA are tax-free when used to pay for items: bandages, pregnancy
qualiied medical expenses as described in Section 213(d) of the Internal test kits, blood pressure
Revenue Service Tax Code. A list of these expenses is available on the monitors, etc.
IRS Web site, www.irs.gov in IRS Publication 502, “Medical and Dental Ineligible Examples
Expenses.” Babysitting
The list to the right provides examples of eligible and ineligible healthcare Cosmetic surgery
expenses. This list is not all-inclusive. Remember, the IRS may modify Funeral expenses
its list of eligible expenses from time to time. As always, consult your tax Hair transplant
advisor should you require speciic tax advice.
Health club dues
Insurance premiums
The HSA Plan and Copays Teeth whitening
Under the HSA plan, copays are listed for medical care such as physician ofice
visits, prescriptions, and hospital services. Please note these copays do not
apply, even for prescriptions, until the full deductible has been met.
Once you satisfy your full deductible, you will pay the copays listed in your plan
summary to access these services.
7
