Ryan Kennelly
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Can Funds In an HSA Be Invested?
Yes, you can invest the funds in your HSA. The same types of investments permitted for IRAs are allowed for HSAs, including stocks, bonds, mutual funds, and certificates of deposit. However, the ty...
How Do I Access My HSA Funds After I Turn 65?
Once you reach age 65 your HSA funds can be withdrawn at any time and are only subject to ordinary income tax. However, you may avoid any tax by continuing to use the funds for qualified medical ex...
How Can I Get an HSA Account?
Individuals can sign up for HSAs with banks, credit unions, insurance companies and other approved companies. Your employer may also set up a plan for employees as well. Whether you would be roll...
What is the Special Enrollment Period (SEP)?
Special Enrollment Period is the health insurance period that lasts for most of the year (January 1st - October 31st) and requires applicants to have a qualifying event and provide documentation of...
Do My HSA Contributions Provide Any Tax Benefits?
Your personal contributions offer you an “above-the-line” deduction. An “above-the-line” deduction allows you to reduce your taxable income by the amount you contribute to your HSA. You do not have...
What Is Minimum Essential Coverage (MEC)?
In order to comply with the shared responsibility provision (individual mandate), all Americans must maintain health insurance that is deemed minimum essential coverage, unless they qualify for an ...
What is a Premium Tax Credit?
A premium tax credit is a tax credit you can use to lower your monthly insurance payment (called your “premium”) when you enroll in a plan through the Health Insurance Marketplace. Your tax credit ...
What Does An Off-Exchange Plan Mean?
An off-exchange plan is just a health insurance policy that is purchased directly from the carrier or through an agent or broker, outside of the state or federal healthcare.gov health insurance exc...
Is My Provider In Network With Ameritas?
Hello! While Ameritas does have one of the larger networks for individual insurance we always recommend completing a search prior to signing up to ensure your provider is in network. (We also recom...
Can I pay for health insurance premiums tax-free from my HSA?
Generally, no, but there are 4 exceptions. The accountholder can pay health insurance premiums from the HSA if the accountholder is: 1. Receiving federal or state unemployment benefits 2. Has healt...