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HSA Common Questions

 

What are Health Savings Accounts (HSA's)?

An HSA is a special bank savings account owned by the insured person where contributions can be made that are tax deductible. These contributions are used to pay for current and future medical expenses. You are not taxed on deposits made into these accounts nor the interest they earn as long as withdrawals are for qualified medical expenses. An individual can deposit up to $3050 per year or if you have family members on the insurance policy, you can contribute up to $6,150 per year.

 

What are Health Savings Accounts (HSA's)?

How do I set up an HSA?

What are qualified medical expenses?

"Can I pay my health insurance premiums from my HSA?"

Can I withdraw money from my HSA for non-medical purposes?

How do employer sponsored HSA medical plans affect employees that are 65 and older?

2 questions asked by a Facebook fan

Is there a time limit?

 

 

 

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