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Health Care Non-Deductible Ineligible Expenses
The IRS and the Federal Courts have deemed certain medical and healthcare expenses to be non-qualified for reimbursement through Health Savings Accounts (HSA). If you make a withdrawal for non-qualified health care expenses, a penalty of 20% plus ordinary income taxes will be due on the amount used. Please note that DataPath, Inc. does not intend this list to be comprehensive tax advice. For more detailed information, please consult IRS Publication 502 or see your tax advisor.
*EFFECTIVE 1/1/2011, OVER-THE-COUNTER medicines will no longer be reimbursable from an FSA, HRA, or HSA without a doctor's prescription.
Non-Deductible Medical Expenses
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Non-Deductible Over-the-Counter Drugs
Under new Federal Healthcare regulations, Over-the-Counter drugs may only be purchased with health plan funds if the participant has a prescription for that particular item. If you make a withdrawal for non-qualified health care expenses, a penalty of 20% plus ordinary income taxes will be due on the amount used.
*EFFECTIVE 1/1/2011, OVER-THE-COUNTER medicines will no longer be reimbursable from an FSA, HRA, or HSA without a doctor's prescription.
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Click the links below for more information.
| Health Care Deductible Expenses Over-the-Counter Deductible Drugs |
Non-Deductible Medical Expenses Over-the-Counter Non-Deductible Drugs |
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