8/6/2023 0 Comments Hsa eligible expenses 2021 pdfList of HSA Eligible Expenses (PDF) Opens a New Window. The accounts are self-administered and are subject to IRS audit, so substantiation or evidence of your health care expenses should be maintained. Below is a quick reference list of eligible medical expenses that can be reimbursed from your health savings account (HSA). ![]() 31, 2021, telemedicine or remote healthcare can be covered by HSA plans at no charge. Amounts in these accounts are available at the employee's discretion to pay for tax deductible health care expenses, as outlined in IRS Publication 502, Medical and Dental Expenses. Learn what counts as an eligible health savings account expense. The City transfers all deposit deductions to Nicolet National Bank on behalf of its employees. Please consult a tax professional for details. Dependent Care Spending Account (DCSA), which allows you to pay for eligible dependent care expenses using pretax dollars. You also have the ability to make deposits to your account at any time, although this will change the process for receiving the resulting tax benefits. Typically, an Explanation of Benefits (EOB) from a health insurance company is adequate documentation for eligible expenses. In the event you enroll in the City's HDHP and do not elect a pretax deposit when you initially enroll for coverage or during the Annual Enrollment period, you may make a deposit election at the beginning of any calendar quarter. Future(retiree medical costs)The same as above, plus Medicare Part B and D and Medicare Advantage premiums 3. The change will be implemented the next pay period. second quarter 2021 benefits quarterly9 Fortune 500 benefit trends expenses, Consolidated Omnibus Budget Reconciliation Act (COBRA) coverage premiums and LTC premiums 2. Your pre-tax deduction will be assumed to be the amount you wish to have deducted each payroll period, unless you complete a Change Request Form (PDF).Įmployees who wish to do so can change the amount elected for deposit at any time by completing the Change Request Form (PDF) and submitting it to payroll. The City of Stevens Point health plan is considered a Qualified High Deductible Health Plan (HDHP) under IRS Code Section 223 (c)(2), allowing individuals who participate in this health plan to establish a Health Savings Account (HSA) for unreimbursed health care expenses.Įach year at Annual Enrollment when you enroll in the City's HDHP you may make an election to have a portion of your pay deducted, prior to taxes, for deposit in your HSA. Re: Health Savings Account Pre-tax Deposits Eligible Vision Expenses Eye exams Eyeglasses, contacts, or safety glasses, prescription only (warranties excluded) Contact lens and contact lens solutions Laser eye surgery LASIK Eligible OTC Medicines and Drugs As of January 1, 2020, over-the-counter (OTC) medicines and drugs are reimbursable via FSA, HRA, and HSA.
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