Section 1201 of the Medicare Prescription Drug, Improvement and Modernization Act of 2003 added section 233 to the Internal Revenue Code to permit eligible individuals to establish Health Savings Accounts for taxable years beginning after December 31, 2003. President Bush signed the legislation into law on December 8, 2003.
What is an HSA?
Why an HSA?
Who is eligible for an HSA?
Is an HSA right for everyone?
Do I need a certain type of Insurance Plan?
Do I need a certain type of account?
Employer Benefits of HSA Plans
Employee Benefits of HSA Plans
HSA Tax Treatment
Tax Treatment: Inviduals
Tax Treatment: Employer Contributions
How are Distributions Taxed?
Who May Contribute?
How much may be contributed to an HSA in calendar year 2006?
Tax Treatment of Contributions
What are catch up Contributions?
What are “Qualified Medical Expenses?”
Are health insurance premiums qualified medical expenses?
How are claims adjudicated and processed?
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