Health Savings Accounts (HSAs) are one of the more popular topics we write about on our blog. Here's a look at our top five articles on Health Savings Accounts (HSAs) in 2013.
This article reviews the Health Savings Account rules and requirements for 2014 including the IRS guidelines on contribution limits and out-of-pocket maximums.
Health Savings Accounts (HSAs) are financial accounts established by an individual or family to pay for qualified medical expenses. With an HSA, taxpayers receive a 100% income tax deduction on annual contributions, they may withdraw HSA funds tax-free to reimburse themselves for qualified medical expenses, and they may defer taking such reimbursements indefinitely without penalties. This article answers ten of the most common questions about HSAs.
A high deductible health plan (HDHP) paired with a Health Savings Account (HSA) is growing in popularity. For example, HDHP plans have increased from 4% of all employer-sponsored health insurance plans in 2006 to 20% in 2013. This article reviews the requirements to open an HSA and provides a summary of the HDHP guidelines, according to the IRS.
Health Savings Accounts (or HSAs) were created in 2003 so that individuals covered by high-deductible health plans could receive tax-preferred treatment of money saved for medical expenses. Generally, an adult who is covered by a high-deductible health plan (and has no other first-dollar coverage) may establish a Health Savings Account. This article reviews the guidelines and rules for HSAs.
This article provides a reference for HSA contribution limits for 2013. You can make HSA contributions for the 2013 tax year until April 15, 2014. Maxing out the 2013 HSA limit set by the IRS will reduce the amount the employee pays in federal income tax.
What types of articles on Health Savings Accounts (HSAs) would you like to see in 2014? Leave a comment below with ideas, requests, or HSA trends you're seeing with employee health benefits.