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Colorado Health Benefit Plan Description Form Rocky Mountain Health Care Options SOLO OUTLOOK HSA (HSA-Eligible) PPO Individual $2,500/$3,250/$5,000 PART A: TYPE OF COVERAGE 1. TYPE OF PLAN 2. OUT-OF-NETWORK
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What is hsa-eligible?
HSA-eligible refers to a health savings account (HSA) that meets the requirements set by the IRS for individuals to contribute pre-tax dollars towards qualifying medical expenses.
Who is required to file hsa-eligible?
Individuals who have a high deductible health plan (HDHP) and meet other IRS eligibility criteria are required to file a HSA-eligible account.
How to fill out hsa-eligible?
To fill out a HSA-eligible account, individuals must provide information about their HDHP coverage, annual contribution limits, and qualifying medical expenses. This information is typically reported on IRS Form 8889.
What is the purpose of hsa-eligible?
The purpose of a HSA-eligible account is to allow individuals to save pre-tax dollars for medical expenses not covered by their HDHP, while also providing a tax-advantaged way to save for future healthcare costs.
What information must be reported on hsa-eligible?
Information that must be reported on a HSA-eligible account includes contributions made, distributions taken, qualifying medical expenses, and any other relevant information to ensure compliance with IRS regulations.
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