![]() ![]() ![]() You have until March 31, 2022, to file claims for reimbursement of eligible expenses. You can find IRS Publication 969, Health Savings Accounts and Other Tax-Favored Health Plans, and IRS Publication 502, Medical and Dental Expenses, online, or you can call the IRS to request a copy of each at 80. Eligible expenses are defined by the IRS. You are also encouraged to review information available from the Internal Revenue Service (IRS) for taxpayers, which can be found on the IRS website at IRS.gov. Because the administration of an HSA is a taxpayer responsibility, you are strongly encouraged to consult your tax advisor before opening an HSA. It is not intended, nor should it be construed, as legal or tax advice. The information provided herein is general in nature. Consult an attorney or tax professional regarding your specific situation. Fidelity makes no warranties with regard to such information or results obtained by its use, and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Fidelity cannot guarantee that the information herein is accurate, complete, or timely. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Nothing in these materials is intended to apply to a particular individuals financial situation. 2 The Complete HSA Eligibility List HSA Store, 2023. (2022), Health Savings Accounts and Other Tax-Favored Health Plans IRS, 2023. The information herein is general and educational in nature and should not be considered legal or tax advice. Here are some examples of non-qualified HSA expenses: 2. ![]() The value of your investment will fluctuate over time, and you may gain or lose money.įidelity does not provide legal or tax advice. About Form 5329, Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts. Qualified medical expenses (QMEs) are designated by the IRS and include medical, dental, vision, and prescription expenses. Keep in mind that investing involves risk. One annual contribution limit applies for both spouses you may split the annual limit between each spouse’s HSA. If you are age 55 or older, you may also make a catch-up contribution of 1,000 per year. This information is intended to be educational and is not tailored to the investment needs of any specific investor. If you are eligible for all 12 months of 2022 and have family HDHP coverage, you may contribute up to 7,300 to your HSA for 2022. We recommend consulting the IRS's guide in Publication 502 to see what's qualified and what isn't. Fidelity does not determine what is a qualified medical expense. ![]()
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