Health Account Eligibility and Tax Treatment

What this video covers

• Why an HSA cannot erase an unmet deductible or make the insurer pay, including how a $600 bill with $150 in HSA funds still leaves $450 owed
• How HSA, FSA, and HRA ownership and funding differ, and which unused balances may carry over or follow a worker to a new job
• Why a high deductible alone does not prove HSA eligibility, and what other coverage, Medicare enrollment, and dependent status can mean for contributions
• How personal contributions, employer funding, and account earnings receive different federal tax treatment
• When a nonqualified HSA distribution may trigger income tax and an additional 20% tax, and what changes at age 65 or in cases of disability or death
• Which medical expenses and insurance premiums HSA funds may cover, including the Medigap exception and the need for itemized bills