A Health Savings Account (HSA) is a type of medical savings account that has become popular due to the tax-advantages it provides for those enrolled in a High Deductible Health Plan (HDHP). HSAs are used to pay for expenses covered under the HDHP, until the deductible is met, as well as qualified medical expenses not covered under the HDHP. This “Compliance Overview” summarizes key HSA features, such as tax benefits, eligibility requirements, and contribution limits for 2019.
Contact your Cowden representative for more information on this or other compliance issues.