PDF-Changes to your HSA When You Reach 65

Age 65 General Distributions At age 65 you can take penalty free distributions from the HSA for any reason However i n order to be both tax free and penalty free the distribution must be fo. Who is it aimed at This lea64258et is for organisations employers voluntary organisations and charities in Northern Ireland who engage individuals to work with vulnerable groups including children and have contact with Access Northern Ireland Acc SM. A . Division of Health Care Service Corporation, a Mutual Legal Reserve Company, an Independent Licensee of the Blue Cross and Blue Shield Association. Copyright © 2013. All rights reserved.. bcbsok.com. 2014 Employee Health Benefits. Medical Plan Changes. Single plan offering: a High Deductible Health Plan (HDHP) with a Health Savings Account (HSA). Spouses excluded if eligible for employer-sponsored coverage, Medicare, or . 50. th. AIAA-JPC Conference, July 29, 2014. Cleveland, OH. All m. embers: . Space Propulsion Synergy Team . – http:spacepropulsion.us. Douglas . G. Thorpe, Co-Founder: http://theUSAparty.com. Russel. Health savings accounts (HSAs) are individual accounts offered by Optum Bank®, Member FDIC, and are subject to eligibility requirements and restrictions on deposits and withdrawals to avoid IRS penalties. Investments are not FDIC-insured, are not guaranteed and may lose value. State taxes may apply. Fees may reduce earnings on account. The information contained in this presentation is not intended as legal, investment, or tax advice. It is supplied for general educational purposes and with the understanding that Optum does not provide legal, investment, or tax advice. Please contact a competent legal, investment, or tax professional for personal advice on eligibility, investing, tax treatment and restrictions. State taxes may apply. Fees may reduce earnings on account. Federal and state laws and regulations are subject to change. . HSA educational series. 2. HealthEquity. webinar series:. Health savings account basics. Tips to maximize your HSA savings. HealthEquity member portal overview. www.healthequity.com/webinars. HealthEquity. This presentation is adopted from a presentation made in an advanced tax planning class as part of the curriculum for my Master’s in Tax & Financial Planning at San Diego State University. Although it highlights many of the HSA basic concepts, it is actually designed to focus on a little known “secret” behind the HSA plan—the ability to by-pass the 7.5% AGI limitation required before most people can ever deduct any of their medical expenses. I hope you enjoy!. decisions. It . is the members' responsibility to ensure eligibility requirements as well as if they are eligible for the plan and expenses submitted. . No soliciting. No recording. No . photography. No . Maximize your HSA opportunity. 2. Save now:. Lower monthly insurance premiums. HSA . contributions . aren’t taxed. Qualified medical expenses are tax-. free. 1. Save for the future:. HSA funds roll over year after year. Funding & Invoicing. ____ __. Agenda. HSA Funding & Invoicing. Invoice for Administrative Fees. File and Funding Process. Unopened Account Funding (Pending Contributions). Health Savings Account (HSA) Funding & Invoicing ____ __ Agenda HSA Funding & Invoicing Invoice for Administrative Fees File and Funding Process Unopened Account Funding (Pending Contributions) Step 1: Understanding your options VEBA: A VEBA account is funded by the employer, and you as the individual may decide to participate. Funds in a VEBA account belong to you and can be used to pay The balance in your HSA is insured by the Federal Deposit Insurance Corporation FDIC Account Holder Information x0000x0000iiwVViiiV-VVivx0000First NameMILast NameSocial Employee ID and Employer if app 2. Why HSAs?. Easy win in today’s complex health care system:. Save now:. Lower monthly insurance premiums. HSA deposits aren’t taxed. Typically lowers income tax liability. Save for the future:.