What is a Health Savings Account (HSA)?
How do qualified high-deductible health plans and HSAs work together?
What are the advantages to offering such a plan?
How does this type of coverage differ from other types of plans?
Who can establish an HSA?
Who can contribute to an HSA?
When can HSA funds be accessed?
What is a “qualified medical expense”?
How do the deductibles and out-of-pocket maximums work?
Can HSA funds be used to pay medical insurance premiums?
Who owns the HSA?
Is there a limit to the amount of HSA contributions?
Are there rules that apply to employer contributions?
Who is responsible for keeping records on the HSA?
Are HSAs required in order to offer a qualified high-deductible health plan?
Does enrolling in a qualified high-deductible plan instantly qualify a person for an HSA?
Can a person have other health coverage and still be eligible for an HSA?
What happens to unused funds in the HSA?
Do carryover deductible amounts apply?
What if HSA funds are used to pay for items other than qualified medical expenses?
Will deductible or out-of-pocket maximum amounts change?
What is the Preventive Drug List and when can it be used?
Why are medications on the Preventive Drug List able to bypass the required deductible in an HSA-qualified plan?
How are medications on the Preventive Drug List processed and paid?
What are the advantages of using the Preventive Drug List option?
What was the approval process for placing medications on the Preventive Drug List?
How does a person set up an HSA?
What other legislative changes have added advantages to offering and using HSAs?