IRS issues guidelines for new tax-favored accounts.(HSAs)

Publication: Medicine & Health

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The Internal Revenue Services in new guidelines outlines the broadly favorable tax treatment and other details of health spending accounts established under the Medicare prescription-drug bill.

HSAs are tax-exempt trust or custodial accounts established to pay qualified medical expenditures and are open to all non-Medicare-covered individuals and families, IRS explains. HSA holders must be covered by high-deductible health plans during the months in which they, their employers, and/or their family...

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