Health Reform: Impact on HSAs

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 The passage of HR 3590 really should have little impact on HSAs, but here are two changes that you should be aware of:

  1. It will exclude the tax free reimbursement for the costs for over-the-counter drugs not prescribed by a doctor effective January 1, 2011.
  2. It will increase the tax on distributions that are not used for qualified medical expenses to 20% from 10%. This will be effective January 1, 2011.

Source: Eric Johnson, First Horizon Msaver

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The Fort Worth Association of Health Underwriters is a local chapter of the National Association of Health Underwriters, a member organization that represents nearly 20,000 licensed health insurance agents, brokers, consultants and benefit professionals through more than 200 chapters across America.

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