Learn about InComm Benefits' Health Savings Account (HSA) and Flexible Spending Account (FSA) resources to optimize your healthcare savings and expenses.
Health Care FSA -You can use your health care FSA to pay yourself back for eligible health care, vision, and dental expenses for yourself, your spouse, or eligible dependents (children, siblings, parents, and other dependents as defined in your plan documents). ...
Tags: Affordable Care Act, flexible spending account, FSA, FSA eligible expenses, health care, health insurance, healthcare, medical, medical expenses, medical FSA, Obamacare, OTC, over the counter, tax, tax planning, Tax Turkeys to Avoid, taxes, use-it-or-lose-it rule, workplace benefits...
Typically, if the employee’s income is within 400 percent of the federal poverty line for their family size, they may be eligible for a tax credit that reduces healthcare costs by lessening premiums. Notably, the IRS has temporarily eliminated this requirement through tax year 2025, thereby ...
AHealth Savings Account (HSA)can be for you if you’re enrolled in a high-deductible health insurance plan (HDHP), which is a plan that offers lower premiums in exchange for a higher deductible. An HSA lets you put money away on a pre-tax basis for eligible healthcare expenses, includi...
FSA: A flexible spending account (FSA) allows you to use pre-tax dollars to pay for many medical expenses (everything from office visits to medications). When you set up an FSA, you decide how much money you want to contribute from your paycheck each month and the funds are automatically...
A [Consumer-Driven Health Plan]() (CDHP) is an HSA-eligible [High-Deductible Health Plan]() paired with a tax-advantaged spending account for out-of-pocket costs such as an HSA or FSA. This strategy requires employees (consumers) to make proactive decisions about their health care. The ...