- What Are Health Savings Accounts?
- Who Can Establish an HSA?
- How Much Can Be Contributed to an HSA?
- How Do You Establish an HSA?
- Who Can Make Contributions to an HSA?
- How Are Contributions Made to an HSA?
- Can You Make Contributions to an HSA if You Are Covered under an FSA or HRA?
- Can Your Contributions Earn Interest?
- How Are Contributions Taxed?
- How Are Distributions Taxed?
- What Are Qualified Medical Expenses?
- Are Rollovers Permitted?
- What Happens to Funds Remaining in Your HSA?
You may not be eligible to make contributions to an HSA if you are currently covered under a Flexible Spending Account (FSA) or a Health Reimbursement Arrangement (HRA) that provides duplicate coverage of the HSA. However, if you have an FSA or an HRA, you will be eligible to participate in an HSA if:
- Your FSA or HRA repays or reimburses only vision, dental, or preventive care expenses.
- Your FSA or HRA is a high-deductible arrangement that pays or reimburses health-care expenses only after the minimum annual HDHP deductible has been satisfied.
- You suspend your HRA for a period of time by electing to forgo reimbursement of HRA benefits that you incur during the suspension period (your employer can continue to make contributions during the suspension period).
- Your HRA is a retirement HRA that reimburses medical expenses you incur once you retire (although contributions can be made before you retire).
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