However, the IRS allows FSA funds to be used for paying separate fees charged at health clinics or physical therapy centers for specific activities prescribed by doctors for an individual. The physician must issue a statement (i.e., put in writing) that the treatment is necessary to alleviate ...
Generally, HSAs cannot be used to pay private health insurance premiums, but there are some exceptions, such as paying for health care coverage purchased through an employer-sponsored plan under COBRA and paying premiums while receiving unemployment compensation. Retiring before 65? Explore health ...
The untaxed dollars in an HSA can be used to pay for things such as deductibles, co-pays and other health expenses and can help lower overall costs of health care. Typically, the money in the HSA can't be used to pay premiums. Flexible Spending Account, or FSA: An FSA is similar to...
Neither are insurance premiums, weight loss programs or health club dues. For a list of qualified versus non-qualified medical expenses, check out IRS Publication 502. One more thing: Consider alternatives Credit cards are typically the most expensive form of financing, and medical expenses can be...
The "FSA guide to pension annuities and pension-fund withdrawal" warns people to shop around for the best value annuity, because many assume they must buy it from the same insurance company they used to build their pension fund. But decisions made at the start of the pensions-planning proce...