For plans with coverage effective Jan 1, 2010:
Your eligibility to contribute to an HSA for each month is generally determined by whether you have HDHP coverage on the first day of the month. Your maximum contribution for the year is the greater of: (1) the full contribution, or (2) the pro rated amount. The full contribution is the maximum annual contribution for the type of coverage you have on December 1. The pro rated amount is 1/12 the maximum annual contribution for the type of HDHP coverage you have times the number of months you have that type of coverage. If your contribution is greater than the pro rated amount, and you fail to remain covered by an HDHP for the entire following year, the extra contribution above the pro rated amount is included in income and subject to an additional 10 percent tax.
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 2010?
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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