Can you use a health savings account for gym equipment?

Answer Exercise equipment and/or gym memberships are among several things that are not covered under the Health Savings Account (HSA) as listed by the IRS. Also not included: fitness programs, health club... Read More »

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What Is the Difference Between a Health Reimbursement Account & a Health Savings Account?

Two health insurance options that have gained popularity compared to the conventional employer-paid health insurance are the Health Savings Account (HSA) and Health Reimbursement Account (HRA). The... Read More »

What is the difference between a health savings account&a flexible spending account?

Health savings accounts (HSAs) and flexible spending accounts (FSAs) are ways to put money aside for future heath care costs. Both provide tax advantages, but the qualifications and functions of th... Read More »

IRS Rules for a Health Savings Account?

Qualified trustees set up tax-exempt health savings accounts or custodial accounts. These accounts pay for or reimburse certain medical expenses. You do not need permission from the IRS to establis... Read More »

How do I open a health savings account?

Buy It HighSubscribe to a high deductible health insurance plan. As of 2010, the minimum high deductible amount required for a Health Savings Account (HSA) for an individual is $1,200 and for fami... Read More »