Page 8 - TVS 2021 Benefits Guide
P. 8
Always remember to USING AN HSA WITH AN HDHP
keep your receipts! How an HSA Works with the High Deductible
If the IRS audits you Health Plan
to make sure you
used your HSA for You Are Eligible to Open and Fund an HSA If
eligible expenses, You are covered by an HSA eligible HDHP option
you will need to You are not covered by your spouse’s non-qualiied health plan
provide receipts You are not eligible to be claimed as a dependent on someone else’s
to avoid paying tax return
a penalty . You are not enrolled in Medicare, TRICARE, or TRICARE for Life
You have not received Veterans Administration Beneits in the last
3 months
What Expenses are Eligible for Reimbursement from
an HSA?
An HSA may reimburse IRS qualiied healthcare expenses incurred by
you the account holder, your spouse, and your dependents (even if the
spouse and dependent children are not enrolled in the HDHP).
A few examples of qualiied healthcare expenses that may be reimbursed
from an HSA are below:
Qualiied medical, dental, and vision expenses
COBRA premiums
Health insurance premiums while receiving unemployment beneits
Qualiied long term care premiums (the reimbursable amount
depends on one’s age)
Any health insurance premiums paid, other than for a Medicare
supplemental “Medigap” policy, by individuals age 65 and over
HSA eligible medical expenses are deined by the IRS. IRS Publication
502 provides a complete list of eligible expenses. The list can be found
at www. irs.gov/pub/irs-pdf/p502.pdf.
8
keep your receipts! How an HSA Works with the High Deductible
If the IRS audits you Health Plan
to make sure you
used your HSA for You Are Eligible to Open and Fund an HSA If
eligible expenses, You are covered by an HSA eligible HDHP option
you will need to You are not covered by your spouse’s non-qualiied health plan
provide receipts You are not eligible to be claimed as a dependent on someone else’s
to avoid paying tax return
a penalty . You are not enrolled in Medicare, TRICARE, or TRICARE for Life
You have not received Veterans Administration Beneits in the last
3 months
What Expenses are Eligible for Reimbursement from
an HSA?
An HSA may reimburse IRS qualiied healthcare expenses incurred by
you the account holder, your spouse, and your dependents (even if the
spouse and dependent children are not enrolled in the HDHP).
A few examples of qualiied healthcare expenses that may be reimbursed
from an HSA are below:
Qualiied medical, dental, and vision expenses
COBRA premiums
Health insurance premiums while receiving unemployment beneits
Qualiied long term care premiums (the reimbursable amount
depends on one’s age)
Any health insurance premiums paid, other than for a Medicare
supplemental “Medigap” policy, by individuals age 65 and over
HSA eligible medical expenses are deined by the IRS. IRS Publication
502 provides a complete list of eligible expenses. The list can be found
at www. irs.gov/pub/irs-pdf/p502.pdf.
8
