Choose a medical plan that is not a CDHP and keep your Medicare dependent enrolled in PEBB coverage. If your covered dependents become entitled to Medicare Part A and Part B, you must either: The PEBB Program must receive your request no later than 60 days after the Medicare enrollment date. If you are enrolled in a CDHP with an HSA when you or a covered dependent become entitled to Medicare Part A and Part B, you must choose a new medical plan that is not a CDHP. SAVINGS PLANNER FREE FULL
See The Complete HSA Guidebook for full details.
Check IRS Publication 969-Health Savings Accounts and Other Tax-Favored Health Plans, contact your tax advisor, or call HealthEquity toll-free at 1-87(for Kaiser members) or 1-84 (for UMP members) to verify whether you qualify.
You also cannot be claimed as a dependent on someone else’s tax return. This does not apply if the Medical FSA or HRA is a limited purpose account, or for a post deductible Medical FSA. This also applies if your spouse has a Medical FSA, even if you are not covering your spouse on your CDHP. A Medical Flexible Spending Arrangement (FSA) or Health Reimbursement Arrangement (HRA). 
(This includes you or your spouse or state-registered domestic partner.)
A Voluntary Employee Beneficiary Association Medical Expense Plan (VEBA MEP), unless you convert it to a limited health reimbursement account (HRA) coverage. Another health plan that is not an IRS-qualified high-deductible health plan - for example, on a spouse’s or state-registered domestic partner’s plan - unless the health plan coverage is limited coverage, such as dental, vision, or disability coverage. To be eligible to enroll in a CDHP, you cannot be enrolled in: If you (the subscriber) are not eligible and enroll, you may be liable for tax penalties. You must meet certain eligibility requirements to enroll in a CDHP with an HSA. Those who enroll in a CDHP should prepare to invest time and energy in seeking qualified HSA expenses from network providers. Can keep track of HSA expenses in case of an IRS audit.ĬDHPs can encourage you to make informed decisions about your health care and spend HSA funds wisely. Are willing to check which services and supplies are qualified HSA expenses. Want to save on taxes by contributing to an HSA through pretax payroll deductions. Generally, CDHPs work well for people who: Visit benefits and coverage by plan for coverage details. Kaiser Permanente NW, Kaiser Permanente WA, and Uniform Medical Plan offer CDHPs. Your medical and prescription drug costs count toward the annual deductible and out-of-pocket maximum. 
If you cover yourself and one or more dependents, you must pay the entire family medical deductible before the plan begins paying benefits.CDHPs offer lower premiums, a higher medical deductible, and a higher medical out-of-pocket limit than most traditional health plans. What is a consumer-directed health plan (CDHP)?Ī CDHP is a high-deductible health plan (HDHP), with a health savings account (HSA). The money is yours, even if you change health plans.Īfter you’re 65, you can withdraw HSA dollars for any expense – you’ll just need to pay income taxes. Your HSA balance can grow over the years, earn interest, and build savings that you can use to pay for health care as needed. Qualified expenses for your spouse or other tax dependents, even if they aren't covered on your medical, dental, and vision plans.IRS qualified out-of-pocket medical expenses (like deductibles, copays, and coinsurance) including some expenses and services that your health plans may not cover.The PEBB Program also contributes to your HSA each month. When you enroll in a CDHP, you are automatically enrolled in an HSA. An HSA is a tax-advantaged account, which means money you contribute is not taxed.
0 kommentar(er)
