Hsa eligible expenses 2018 pdf

Eligible and ineligible expenses for hsa below is a partial list of permissible expenses reimbursable through a health savings account hsa that are incurred by you, your spouse, or qualified dependents. Weve also put together summaries of dependent care assistance program dcap and commuter. Medical dental vision pharmacy including but not limited to. The irs outlines which medical, vision, dental and prescriptions qualify within an hsa. Medicare premiums and outofpocket expenses for part a, part b, part c and part d expenses that dont qualify if you pay for anything other than qualified expenses with your hsa, the amount will be taxable, and you will pay an additional 20 percent tax penalty. While many common expenses like office visits, prescriptions, labs and xrays are covered, were sorry to say a few, like dancing lessons and cosmetic surgery, are not.

Eligible expenses myhsa abg retirement plan services. Overthecounter medicines and drugs may only be eligible for fsa reimbursement if you have a valid prescription. There are thousands of eligible expenses for taxfree purchase with a health savings account hsa, flexible spending account fsa, and health reimbursement arrangement hraincluding prescriptions, doctors office copays, health insurance deductibles, and coinsurance. Section 2d eligible expenses if you have any questions on what constitutes a section 2d eligible expense, please contact our customer relations team. Qualified expenses for a health savings account hsa. Health savings accounts hsa are individual accounts offered by optum bank, member fdic, and are subject to eligibility and restrictions, including but not limited to restrictions on distributions for qualified medical expenses set forth in section 2d of the internal revenue code. Medical expenses include dental expenses, and in this publication the term medical expenses is often used to refer to medical and dental expenses.

The hsa for life is intended to qualify as a health savings account as set forth in internal revenue code section 223. Examples of qualified medical expenses the following list includes common examples of hsa qualified medical expenses. To help you keep track, we put together the hsa, fsa, and hra eligible expenses list below. Letter in addition to the required detailed receipt, you will need to submit a letter of medical necessity, signed by your doctor, to verify this expense is a medicallynecessary treatment for a known medical condition. Medical expenses such as deductibles and coinsurance payments required under your medical plan qualify as eligible expenses. Qualified medical expenses hsaqualified medical expenses are defined by irs code, section 2d and include amounts paid for the diagnosis, cure, mitigation, treatment or prevention of disease for the purpose of affecting any structure or function of the body. This list is not intended to be exhaustive and should only be used as a general guide. Below are some qualified medical expenses that may be paid from your hsa. Health care flexible spending account fsa eligible. Future developments whats new internal revenue service. You can deduct on schedule a form 1040 or 1040sr only the part of your medical and dental expenses that is more than 7. Review irs publication 502 for a full list of eligible health care expenses. When you, your spouse, and your dependents have qualified medical expenses that arent covered by your health care plan, you can use your hsa money taxfree 1 to pay for them.

Hsaeligible expenses are those healthcare related expenses for which you can withdraw funds from your hsa taxfree. The internal revenue service irs decides which expenses can be paid from an fsa and they can. No permission or authorization from the irs is necessary to establish an hsa. The expenses must be primarily to alleviate or prevent a physical or mental defect or illness, including dental and vision. The examples listed here are not allinclusive, consult your tax advisor or see irs publication 502 or irs publication 969 for more information. These will show that you used your hsa funds to pay for eligible medical. Eligible expenses include health plan copayments, dental work and orthodontia, eyeglasses and contact lenses, and prescriptions. For full hsa eligible expenses and guidelines, refer to irs publication 502 or contact your hsa administrator. If you are 65 or older, the tax penalty does not apply, but the amount must be reported as taxable income. Health savings accounts hsas a health savings account hsa is a taxexempt trust or custodial account you set up with a qualified hsa trustee to pay or reimburse certain medical expenses you incur. Your 2018 guide to the health savings account the motley fool.

Expenses are limited to dental and vision expenses. You can pay for a wide range of irsqualified medical expenses with your hsa, including many that arent typically covered by health insurance plans. Hsa spending qualified medical expenses qmes fidelity. Letter in addition to the required detailed receipt, you will.

Hsahra qualified medical expenses this is a quick reference list of expenses that can be reimbursed from a health savings account hsa or a health reimbursement arrangement hra. Hsa irs contribution limits and guidelines hsa bank. You can now use your hsa, fsa, or hra for overthecounter otc medications without a prescription. Datapath summit features allinone, cloudbased hsa administration, with. These can include adult diapers, contact lens solutions, and contraceptives. You can use the hsa to pay for qualified medical expenses for yourself, your spouse and your dependents before the hdhp deductible is met, as well as for other healthcare expenses.

Your guide to understanding a health savings account. Find out what you can buy with your health account. Qualified medical expenses funds you withdraw from your hsa are taxfree when used to pay for qualified medical expenses as described in section 2d of the internal revenue service tax code. Any expenses that are listed as potentially eligible may require additional documentation such as a letter of medical necessity pdf. Eligible and ineligible expenses for hsa below is a partial list of permissible expenses reimbursable through a health savings account hsa that are incurred by you, your spouse, or. If you are age 65 or older, the tax penalty does not apply, but the amount. If you are currently participating in a highdeductible health plan hdhp and are contributing to a health savings account hsa, you may also participate in a limited purpose fsa. Health savings account hsa dependent care flexible spending account dc fsa there are several types of accounts that are not included in the list because the eligible expenses vary. It may take time for vendors to update their systems to recognize these items. They can also include items that a person may purchase for routine care. The expenses associated with the adoption of a child are not eligible for reimbursement with a flexible spending account fsa, health savings account hsa, health reimbursement. Health care flexible spending account fsa eligible expenses fsa. A consumers guide to the health savings account hsa. There is no time limit for when you actually reimburse yourself.

Eligible health savings account expense examples there are hundreds of eligible expenses for your hsa funds, including prescriptions, some overthecounter items, health insurance deductibles, and coinsurance. Datapath summit features allinone, cloudbased hsa administration, with management, investments, and flexible banking options. When you spend your hsa funds on qualified expenses, you are never taxed. Publication 969 2019, health savings accounts and other tax. The new cares act expands eligible expenses for hsas, fsas, and hras. The internal revenue service irs decides which expenses can be paid from an fsa and can change the list at any time. Employee education expenses that qualify for reimbursement from tasc hsa hs4248120115 medical expenses acupuncture artificial limbs. Any otherwise unreimbursed expenses as defined under 2d of the internal revenue code, except amounts distributed to pay health insurance premiums, are eligible. Feminine hygiene products are now qualifying medical expenses. Jan 01, 2020 hsa you can use your hsa to pay for eligible health care, dental, and vision expenses for yourself, your spouse, or eligible dependents children, siblings, parents, and others who are considered an exemption under section 152 of the tax code. To ensure compliance with requirements imposed by the irs, aetna informs you that any federal. Health savings accounts hsas a health savings account hsa is a taxexempt trust or custodial account you set up with a qualified hsa trustee to pay or reimburse certain medical. This list is meant to be used as general guidance for.

Hsa funds may even be used for eligible expenses for your spouse or tax dependents. Health savings account hsa dependent care flexible spending account dc fsa there are several types of accounts that are not included in the list because the eligible expenses vary between employers. Apr 11, 2020 hsa eligible expenses span beyond care and treatment provided by medical professionals. Access your account through the via benefits accounts website single signon to the site through mybenefits online. Eligible limited expense health care fsa lex hcfsa expenses. People older than age 65 can use hsa funds to pay for nonqualified expenses, but they must report the disbursements as taxable income. Proof of qualified expenses is the hsa account holders responsibility. Items that can be used for a medical purpose or for general health and wellbeing are considered dual purpose and are eligible only. There are multiple ways you can spend from your hsa. Once youve contributed money to your health savings account hsa, you can use it to pay for qualified medical expenses for yourself, your spouse and your eligible dependents. However, the account beneficiary that establishes the hsa is solely. You can use the hsa to pay for qualified medical expenses for yourself, your spouse and your dependents before the hdhp deductible is met, as well as for other healthcare expenses allowed under section 2d of the internal revenue code irc. The expenses associated with the adoption of a child are not eligible for reimbursement with a flexible spending account fsa, health savings account hsa, health reimbursement arrangement hra, limited care flexible spending account lcfsa or dependent care flexible spending account dcfsa.

Examples of qualified medical expenses the following list includes. Qualified medical expenses qme are designated by the irs. From a to z, every item and service deemed eligible for taxfree spending will be. The amount you spend will be federal income taxfree.

This list applies to reimbursement under an hsa as well. See the common overthecounter otc medications section below for examples. If you are 64 or younger, you will also pay an additional 20 percent tax penalty. Even though an item may be found in a list, it does not guarantee reimbursement. Eligible health savings account expense examples there are hundreds of eligible expenses for your hsa funds, including prescriptions, some overthecounter items, health insurance. These lists reference eligibility and supporting documentation for 2020 benefit period expenses. Qualified medical expenses funds you withdraw from your hsa are taxfree when used to pay for qualified medical expenses as described in section 2d of the internal revenue service tax.

If you pay for anything other than qualified expenses with your hsa, the amount will be taxable. The irs sets limits each year for maximum contributions to each type of accountbased benefit. Expenses that qualify for reimbursement from tasc hsa. Generally, eligible expenses for health related flexible spending accounts are outofpocket medical, dental, and vision expenses. A health savings account hsa is a taxexempt trust or custodial account you set up with a qualified hsa trustee to pay or reimburse certain medical expenses you incur. These lists are not allinclusive, and are subject to change by the irs. Here it is the mostcomprehensive hsa eligibility list available on the web. Please refer to your employers summary plan description spd for your specific plan details. Readytouse tools to help you make the most of your wageworks benefits. The funds provided in your reimbursement program can be. Snoring cessation aids vitamins and herbal supplements. A health savings account hsa can be an easy and smart way to save money to. Your handy list of fsa eligible expenses pdf employers. Support center eligible expenses calculators popular forms wageworks card fsa store manage account how to videos hsa store.

A list of these expenses is available on the irs website. Eligible expenses in an hra will vary depending on plan design. To ensure compliance with requirements imposed by the irs, aetna informs you that any federal income tax information contained in this communication including any attachments is not intended to and cannot be used by anyone to avoid irs penalties. Medical fsa and hsa expense eligibility list updated 07212015 skin drugs or medicines that must be prescribed in order to qualify. Items that can be used for a medical purpose or for general health and wellbeing are considered dual purpose and are eligible only with a prescription, doctors directive or letter of medical necessity. Hsa eligible expensesqualified hsa expenses wageworks.

This means that you hav e to incur the expenses after you have the hsa. Your benefitwallet health savings account hsa is one of the most powerful savings accounts in america allowing you to save up to 35% in taxes on every dollar you contribute. Some pharmacies can even tell you what purchases are or are not covered by the fsa, so feel. Hsahra qualified medical expenses this is a quick reference list of expenses that can be reimbursed from a health savings account hsa or a health reimbursement arrangement. When you, your spouse, and your dependents have qualified medical. For further information refer to irs publication 502 and irs publication 969 at.

Our pdf download is an extensive list of common eligible items including items that will require a doctors prescription. You have plenty of options for using your hsa to pay for qualified medical expenses as they happen or in the future. You cant use the funds for medical care that you had before you open the hsa. A health savings account is an individually owned taxexempt account established exclusively for the purpose of paying for qualified medical expenses. These accounts can also be used for expenses that are often controversial, such as abortion procedures and. Funds you withdraw from your hsa are taxfree when used to pay for qualified medical expenses as described in section 2d of the internal revenue service tax code. A letter of medical determination may be requested at any time for additional clarification and may require additional processing time. Your limited expense health care fsa pays for qualifying dental and vision services and certain products.