The answer is yes, in some cases. The more you understand your HSA, the more you can work your tax-free money for you. Let's take a closer look.
What is a Health Savings Account?
An HSA is a tax-exempt account you or your employer can pay money to, put to eligible medical expenses. In order to become eligible for an HSA, you must enroll in a high deductible health plan. Your HSA money is yours and will continue to grow each year tax-free
qualified medical expenses, as defined by the Internal Revenue Service could include :.
- Hospital services
- order drugs
- long-term care
- Birth control
- treatment institute health
- the more
What about insurance premiums?
an insurance premium is the money charged by an insurance company for coverage. The amount of money charged for your insurance premium is determined by your age, health, residence and more
Your HSA money can be used toward insurance premiums, but only specific types such than:. Coverage of long-term care, health coverage while you are coverage of health care due to unemployment and federal (COBRA). If you are 65 and over, HSA funds can also be used to afford health insurance except Medicare supplement policies.
0 Komentar