The National Association of Tax Professionals

The National Association of Tax Professionals

HSAs and HRAs

  • Topic(s): Business, Individual
  • Presenter(s): Kathryn M. Keane
  • Session#: 915-19
  • Session Length: 100 minutes
  • Program: NATP 2015 Tax Forums & Expo
  • Date: Aug 26, 2015
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Audio MP3 (download)
AudioPoint for Mobile Device - MP4 (download)

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HSAs and HRAs - Details:

As health insurance costs rise, individuals are choosing to accept health plans with higher deductibles to control costs. Taxpayers who have qualifying high deductible plans may make contributions to health savings accounts (HSAs) pre-tax, which can be a considerable tax advantage for those who qualify. Health reimbursement arrangements (HRAs) are provided by employers to reimburse employees for out-of-pocket medical expenses tax-free and can impact employees' eligibility to contribute to an HSA. The implementation of the Affordable Care Act (ACA) has drastically changed the way HRAs can be offered. Attend this session to gain a better understanding of HSAs and HRAs.

Upon completion of the session, you will be able to:
  1. Recognize the requirements to be an individual eligible to maintain an HSA.
  2. Compute a taxpayer's HSA contribution limit.
  3. Report HSA contributions and distributions on Form 8889.
  4. Identify how HRAs are affected by the ACA.