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Archive for the ‘Eligible Expenses’ Category

I am currently paying for a private Health & Drug Plan. Can I pay for this through my HSA?

Any premiums you pay for a health and drug plan are an eligible medical expense and can be paid for through your HSA. You would need to submit a statement showing the premiums paid to be reimbursed.

I am currently paying for a private Health & Drug Plan. Can I claim expenses that they will not reimburse for me?

As long as the expenses are legitimate claims under a Health and Spending Account (please see: What is an eligible expense?) expenses not covered by your Health & Drug plan can be reimbursed by your HSA. You would need to submit the explanation of benefits page to be reimbursed.

My spouse has coverage however it only pays out 80%, can I submit the remaining 20% for reimbursement by my HSA?

Yes. An Explanation of Benefits statement from the insurance carrier is needed. This can be submitted like any other medical receipt with a completed claim form.

How does a Health Insurance Plan work with a HSA?

A basic drug and extended health coverage plan is a great compliment to your HSA. It can protect your HSA in case of catastrophic illness. Obviously, the best possible situation for a Canadian tax-payer is is to have comprehensive Health Insurance, with no deductible, and fully paid for by someone […]

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