|
gptkbp:instanceOf
|
tax-advantaged savings account
|
|
gptkbp:accountHolderCannotBe
|
claimed as dependent on another's tax return
enrolled in Medicare
|
|
gptkbp:accountHolderMustBe
|
covered by high-deductible health plan
|
|
gptkbp:alternativeTo
|
gptkb:Health_Reimbursement_Arrangement_(HRA)
gptkb:Flexible_Spending_Account_(FSA)
|
|
gptkbp:annualContributionLimit2024
|
$4,150 for individuals
$8,300 for families
|
|
gptkbp:availableOn
|
gptkb:United_States
|
|
gptkbp:canBe
|
bonds
mutual funds
stocks
qualified medical expenses
COBRA premiums
Medicare premiums (not Medigap)
dental expenses
long-term care insurance premiums
vision expenses
health insurance premiums (with exceptions)
|
|
gptkbp:canBeOpenedAt
|
banks
credit unions
brokerages
|
|
gptkbp:catchUpContributionAge
|
55
|
|
gptkbp:catchUpContributionAmount2024
|
$1,000
|
|
gptkbp:compatibleWith
|
required minimum distributions
|
|
gptkbp:contribution
|
tax-deductible
|
|
gptkbp:contributionsCanBeMadeBy
|
employee
employer
anyone on behalf of account holder
|
|
gptkbp:createdBy
|
gptkb:Medicare_Prescription_Drug,_Improvement,_and_Modernization_Act
|
|
gptkbp:earningsAre
|
tax-free
|
|
gptkbp:employerContributionsAre
|
excluded from gross income
|
|
gptkbp:FDICInsured
|
yes (if held at FDIC institution)
|
|
gptkbp:fundsRollOver
|
yes
|
|
https://www.w3.org/2000/01/rdf-schema#label
|
Health Savings Account (HSA)
|
|
gptkbp:inheritance
|
spouse
non-spouse beneficiary (taxable)
|
|
gptkbp:noPenaltyAfterAge
|
65
|
|
gptkbp:owner
|
single
|
|
gptkbp:portable
|
yes
|
|
gptkbp:regulates
|
gptkb:Internal_Revenue_Service_(IRS)
Section 223 of the Internal Revenue Code
|
|
gptkbp:requires
|
high-deductible health plan
|
|
gptkbp:subjectToIncomeTaxForNonQualifiedWithdrawals
|
yes
|
|
gptkbp:subjectToPenaltyForNonQualifiedWithdrawals
|
20% before age 65
|
|
gptkbp:subjectToStateTaxation
|
varies by state
|
|
gptkbp:usedFor
|
medical expenses
|
|
gptkbp:withdrawalsForQualifiedExpensesAre
|
tax-free
|
|
gptkbp:yearCreated
|
2003
|
|
gptkbp:bfsParent
|
gptkb:Medical_Savings_Account_(MSA)
|
|
gptkbp:bfsLayer
|
7
|