Health Savings Account Change In 2018 Could Trip Up Some Consumers

Money deposited in a health savings account is tax-deductible, grows tax-free and can be used to pay for medical expenses. The annual maximum allowable contribution to an HSA is slightly lower for some people this year.

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Fanatic Studio/Getty Images/Collection Mix: Subjects RF

Money deposited in a health savings account is tax-deductible, grows tax-free and can be used to pay for medical expenses. The annual maximum allowable contribution to an HSA is slightly lower for some people this year.

Fanatic Studio/Getty Images/Collection Mix: Subjects RF

Members of Congress have said they want to loosen rules for health savings accounts. Did they do it in the latest spending bill? Do people who were uncovered for one month in 2017 owe a tax penalty? And how can immigrants who move to the U.S. to retire get insurance? These are the questions I’m tackling for readers this week:

I heard that health savings account rules would be loosened under the new spending bill passed by Congress last month. Did that happen?

No. In fact, the

Article source: https://www.npr.org/sections/health-shots/2018/04/03/598819347/health-savings-account-change-in-2018-could-trip-up-some-consumers?utm_medium=RSS&utm_campaign=affordablecareact

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