Publication 969 2022, Health Savings Accounts and Other Tax-Favored Health Plans Internal Revenue Service

Publication 969 2022, Health Savings Accounts and Other Tax-Favored Health Plans Internal Revenue Service


An What Is A High Deductible Health Plan of a small employer that maintains a self-only or family HDHP for you . Have the same category of employment (part-time, full-time, or former employees). HSA administration and maintenance fees withdrawn by the trustee aren’t reported as distributions from the HSA.. You engaged in any transaction prohibited by section 4975 with respect to any of your HSAs at any time in 2022.

If you want total budget control beyond what you could achieve with an LDHP and HDHP, there are alternatives available. The qualified small employer HRA and individual coverage HRA allow employers to offer a health benefit to employees while maintaining a predictable monthly and annual budget. Simply set an allowance that fits your health benefits budget and reimburse employees when they incur a qualified expense. If you’re an employer with a large health benefits budget and want to ensure your employees pay little to nothing in out-of-pocket medical costs, you should consider an LDHP. The lower deductibles and out-of-pocket maximums mean your insurance carrier will pick up most of the bill if your employees incur an expense. Choosing an HDHP is also a good way for individuals who can’t afford an LDHP to still have health coverage.

What Is a High-Deductible Health Plan in the ACA Marketplace?

You, age 53, become an eligible individual on December 1, 2022. Under the last-month rule, you contribute $7,300 to your HSA. Under the last-month rule, if you are an eligible individual on the first day of the last month of your tax year , you are considered an eligible individual for the entire year. You are treated as having the same HDHP coverage for the entire year as you had on the first day of the last month if you didn’t otherwise have coverage. For an employee’s HSA, the employee, the employee’s employer, or both may contribute to the employee’s HSA in the same year. For an HSA established by a self-employed individual, the individual can contribute.


You can save money on lower premiums if you don’t need many health care services during the year. Are you struggling to afford the high cost of health insurance and want to lower your premiums? Consider a high-deductible health plan , which typically offers lower premiums. With an HSA only the amount of the health plan monthly “premium pass through” and the individual’s voluntary contribution accumulated to date is available for reimbursements.

High-Deductible Health Plan FAQs

Relationship-based ads and online behavioral advertising help us do that. does not sponsor or maintain the Flexible Spending Accounts / Health Reimbursement Accounts that you establish. The programs are sponsored and maintained solely by the employer offering the plan, or by an individual establishing an independent plan. Bank of America acts solely as claims administrator performing administrative tasks pursuant to an agreement with, and at the direction of, the sponsoring employer or individual under an independent plan.

  • A few states do not allow pretax treatment of contributions or earnings.
  • If both spouses are 55 or older and not enrolled in Medicare, each spouse’s contribution limit is increased by the additional contribution.
  • For example, if a qualified HSA funding distribution is contributed to your HSA on August 10, 2022, your testing period begins in August 2022, and ends on August 31, 2023.
  • An HDHP is best for younger, healthier people who don’t expect to need health care coverage except in the face of a serious health emergency.

If you terminate employment or change health plans, only eligible expenses incurred while covered under that health plan will be eligible for reimbursement, subject to timely filing requirements. Please see the health plan’s brochure for specific information about receiving medical care. For participating health plan providers, it is recommended payment be made after the health plan’s negotiated provider discount has been applied.

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