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Posts Tagged ‘health savings account’

HSA Contribution Limits for 2010


Posted on May 26th, 2009 by WPJ

The maximum contributions that can be made to health savings accounts in 2010 will increase as will the minimum deductible imposed by health insurance plans linked to HSAs and the maximum out-of-pocket expenses that employees can be required to pay.
The maximum contribution that can be made to an HSA in 2010 for employees with single [...]

Employer Contributions to HSAs – Tax reporting tidbits


Posted on January 9th, 2009 by WPJ

The most common question about HSA contributions is “What should be reported in Box 12?”
The confusion stems from the label of “employer contributions.” Both the employee and employer contributions should be showing in box 12, code W.   IRS Publication 969, for tax year 2008 ( page 10)  indicates that contributions made by the employer via salary reduction [...]

May someone age 65 or older contribute to an HSA?


Posted on December 12th, 2008 by WPJ

In Administrative, Procedural, and Miscellaneous Notice 2004-50, the IRS addresses this question. See Questions 2 and 4, excerpted below:
 Q-2. May an otherwise eligible individual who is eligible for Medicare, but not enrolled in Medicare Part A or Part B, contribute to an HSA?
 A-2. Yes. Section 223(b)(7) states that an individual ceases to be an eligible individual [...]

Questions about Vanguard Money Market Fund


Posted on December 3rd, 2008 by WPJ

Some of our account holders have asked about the security of their HSA money invested in the Vanguard Prime Money Market Fund. Vanguard has issued a statement confirming their continued participation in the Treasury Guarantee Program. You can get details by following the link below:
Vanguard money market funds participate in extension of Treasury Guarantee Program

Advantages of Health Savings Accounts


Posted on May 7th, 2008 by admin

Individuals and Health Savings Accounts
The benefits of investing in a Health Savings Account have become apparent over time. More and more people are moving towards HSA plans for the advantages they offer account holders:

Tax Deductible Contributions
May be eligible to claim contributions on Federal Tax Returns (even if you don’t itemize)
Interest and Other Earnings on Health [...]