A key value of HSAs are tax-free saving and tax-free spending. With one big caveat – all HSA spending, must be used for qualified out-of-pocket medical expenses in order for it to be tax free. So what exactly qualifies under IRS guidelines?
Tag: HSA Eligibility
Small business owners are always looking for ways to maximize benefits while minimizing cost for both themselves and their employees. A small business HSA is a perfect way to limit healthcare costs while ensuring you have the dedicated money you need to pay for medical costs. What you might not know is that your company legal structure, and ownership stake, might impact your HSA contributions.
The value and benefits of an HSA are hard to pass up. Their short-term and long-term savings options create flexibility to enable an HSA strategy that works best for you. In order to take advantage of these opportunities, you need to be eligible. Here are the requirements to determine your HSA-eligibility.