Week Eleven Health Savings Accounts 2010

Week Eleven Health Savings Accounts 2010 - HEALTH SAVINGS...

Info iconThis preview shows pages 1–9. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: HEALTH SAVINGS ACCOUNTS HSA Overview A Health Savings Account (HSA) is a special account owned by an individual where contributions to the account are to pay for current and future medical expenses HSAs are used in conjunction with a "High Deductible Health Plan" (HDHP)- Insurance that does not cover first dollar medical expenses (except for preventive care)- Can be an HMO, PPO or indemnity plan, as long as it meets the requirements HSAs were created in Medicare legislation and signed into law on December 8, 2003 Who Is Eligible for HSAs? Any individual that: Is covered by an HDHP Is not covered by other health insurance Is not enrolled in Medicare - Can't be claimed as a dependent on someone else's tax return Children cannot establish their own HSAs No income limits on who may contribute to an HSA No requirement of having earned income to contribute to an HSA What other health coverage is allowed for you to still be eligible for an HSA? specific disease or illness insurance and accident, disability, dental care, vision care and long-term care insurance Employee Assistance Programs, disease management program or wellness program What is a "High Deductible Health Plan" (HDHP)?...
View Full Document

Page1 / 24

Week Eleven Health Savings Accounts 2010 - HEALTH SAVINGS...

This preview shows document pages 1 - 9. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online