Monday, February 27, 2012

HSA Update

Courtesy of our friends at FlexBank, some interesting late-model HSA factoids:

■ This year's (2012) max contribution ceiling is $3100 for singles and $6250 for families. If your employer is kicking in a few bucks (lucky you!), it'll count towards that total.

Thanks to ObamneyCare©, you'll need a doc's scrip for any Over-The-Counter (OTC) meds you want to run through your account.

You can't pay your regular health insurance premiums from your HSA, but COBRA, Long Term Care insurance and Medicare premiums are generally eligible.

This is VERY cool, and something I hadn't known: Mileage to obtain medical care is an eligible expense under a Health Savings Account. You can reimburse yourself at 23 cents/mile, but you'll need to keep very careful records.

[Hat Tip: Lou G]
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