Page 21 - ABM 2021 Benefit Guide MGT
P. 21
What Expenses are Eligible for Can Ineligible Expenses be Reimbursed
Reimbursement From an HSA? From an HSA?
An HSA may reimburse IRS qualiied medical Yes. Neither the trustee, bank, insurance
expenses incurred by you, the account holder, company, nor the employer are required
your spouse and your dependents (even if the to determine if a claim submitted for
spouse and dependent children are not enrolled reimbursement is a qualifying medical expense.
in the CDHP). Qualiied medical expenses are
deined by the IRS in IRC Sec. 213(d). The amount withdrawn from an HSA for a
nonqualifying medical expense is added to the
In addition to qualiied medical expenses, account beneiciary’s income and is subject
the following insurance premiums may be to a 20% penalty. Where funds are distributed
reimbursed from an HSA: as a result of the account beneiciary’s death,
COBRA premiums disability, or after he or she is eligible for
Medicare, the 20% penalty does not apply.
Health insurance premiums while receiving
unemployment beneits What Expenses Are Not Eligible for
Qualiied long term care premiums (the Reimbursement From an HSA?
reimbursable amount depends on one’s The following expenses may not be reimbursed
age) from an HSA.
Any health insurance premiums paid, Premiums for Medicare supplemental
other than for a Medicare supplemental policies
“Medigap” policy, by individuals age 65 and
over Expenses covered by another health plan
Expenses incurred prior to the date the
Distributions made from an HSA to reimburse HSA was established
the account beneiciary for qualiied medical
expenses are excluded from gross income. Where Can I Find More Information on
HSAs?
HSA-eligible medical expenses are deined This document is meant to serve as a high-
by the IRS. IRS Publication 502 provides a level summary of HSAs. We encourage
complete list of eligible expenses. The list can you to familiarize yourself with all of the
be found at irs.gov/pub/irs-pdf/p502.pdf. rules and regulations pertaining to HSAs.
To view statutes, technical guidance, and
other consumer information released by the
U.S. Department of Treasury, please visit:
irs.gov/publications/p969/.
ABM 21
Reimbursement From an HSA? From an HSA?
An HSA may reimburse IRS qualiied medical Yes. Neither the trustee, bank, insurance
expenses incurred by you, the account holder, company, nor the employer are required
your spouse and your dependents (even if the to determine if a claim submitted for
spouse and dependent children are not enrolled reimbursement is a qualifying medical expense.
in the CDHP). Qualiied medical expenses are
deined by the IRS in IRC Sec. 213(d). The amount withdrawn from an HSA for a
nonqualifying medical expense is added to the
In addition to qualiied medical expenses, account beneiciary’s income and is subject
the following insurance premiums may be to a 20% penalty. Where funds are distributed
reimbursed from an HSA: as a result of the account beneiciary’s death,
COBRA premiums disability, or after he or she is eligible for
Medicare, the 20% penalty does not apply.
Health insurance premiums while receiving
unemployment beneits What Expenses Are Not Eligible for
Qualiied long term care premiums (the Reimbursement From an HSA?
reimbursable amount depends on one’s The following expenses may not be reimbursed
age) from an HSA.
Any health insurance premiums paid, Premiums for Medicare supplemental
other than for a Medicare supplemental policies
“Medigap” policy, by individuals age 65 and
over Expenses covered by another health plan
Expenses incurred prior to the date the
Distributions made from an HSA to reimburse HSA was established
the account beneiciary for qualiied medical
expenses are excluded from gross income. Where Can I Find More Information on
HSAs?
HSA-eligible medical expenses are deined This document is meant to serve as a high-
by the IRS. IRS Publication 502 provides a level summary of HSAs. We encourage
complete list of eligible expenses. The list can you to familiarize yourself with all of the
be found at irs.gov/pub/irs-pdf/p502.pdf. rules and regulations pertaining to HSAs.
To view statutes, technical guidance, and
other consumer information released by the
U.S. Department of Treasury, please visit:
irs.gov/publications/p969/.
ABM 21
