1. What is a Health Savings Account?

2. Where does the money deposited in the account come from?

3. Why should I have a Health Saving Account for my family or me?

4. What other advantages do Health Savings Accounts have over traditional health insurance?

5. Do I have an HSA qualified health insurance plan?

6. Can I open an HSA myself?

7. Why would some one who is less healthy want a Health Savings Account?

8. Is there an IRS approved list of medical expenses that I can spend my tax-free Health Savings Accounts funds on?

9. How much money could build up in my Health Savings Account over time?

10. What options for deductibles and out-of-pocket maximums are insurers allowed to offer to employers or individual consumers?

11. Does the maximum out of pocket include the deductible?

12. Can a co pay prescription card be offered under a qualified high deductible plan?

13. If you purchase an HSA-compatible healthcare plan and that you incur expenses that the plan doesn't allow - such as over their "reasonable and customary" schedule. Can you pay for that amount (over the "reasonable and customary") even if it does not go towards meeting the deductible under the health insurance plan?

14. Who is eligible for a Health Savings Account?

15. What Is a High Deductible Health Plan (HDHP)?

16. Did I have to set up the HSA by the end of 2003 (like an IRA) or can I do it now  
to still get the tax saving benefits for last year?

17. I understand co pay plans are not eligible. Do prescription drug co pay riders fall under that rule?

18. Can I contribute to this plan up till April 15th, 2005 to obtain a deduction for 2004?

19. I carry a private $2K deductible health ins. policy. Can I combine that with just the investment/savings part of an HSA? Can my ins. premiums be paid through the HSA?

20. Who is eligible to open an HSA? Are there income restrictions similar to an IRA? Does an individual need to meet other guidelines?

21. What is an Archer Medical Savings Account?

22. Why were 25% of Archer MSAs purchased by those who had been uninsured for six months or more in 2001?

23. Can HSA accumulated funds eventually be used to pay for eldercare or nursing home/retirement facility?

24. Can you expand on the statement that the contributions to an HSA are tax-free? Is the contribution an individual makes to a non-employer sponsored HSA a deductable expense to the individual?

25. Are over the counter drugs covered under an HRA?

26. Will I pay tax penalties on the monthly fees my HSA custodian deducts from my account? (These aren't qualified medical expenses.)

27. Can I use my Health Savings Account for non-medical expenses?

28. Once I qualify for Medicare (hit the age of 65 yrs. old) can I get a Medicare Health Savings Account?

29. What if I die, what happens to the money in my Health Savings Account?

30. What happens to my Health Savings Account funds when I die? Can I leave it to my children?

31. Does a normal high deductible ($5000) medical insurance policy qualify as a HSA policy?

32. What accountability is required for how the money in the HSA is spent? i.e. If I spend $1200 on prescriptions using my American Express card can I then reimburse myself from the HSA? Is the administrator responsible to ensure all expenses are valid?

33. I'm retired, age 63, spouse 60, current health ins. is BlueCross PPO with $5,000 deductible (per person). Main question is: can we set up one of the new HSA accounts for 2004 and put aside pre-tax dollars event though we have no "earned income"? Our income consists of my Social Security benefit plus interest from various investments. I guess our concern is if you must have "earned income" and secondly if our current Blue Cross PPO/$5,000 deductible primary health policy qualifies. Our current health is probably not good enough to quality for a new health insurance policy.

34. If I choose not to be covered under my spouse's plan at work and I carry my own insurance policy, can I still qualify for an HSA?

35. Can I open an HSA for a dependent who is not a child?

36. I have BlueCross Blue Shield Individual policy with family deductible of $4500. My insurance agent says it doesn't qualify for HSA since it has prescription card benefit. Is this correct?