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STIS: FSA/HSA - can you have one independent of a medical plan?

Posted by colin (aka colinski) Nov 28 '11, 06:01

As I understand it, it's a pre-tax deduction in to a spending account that allows you to spend that on doctor's visits, prescriptions, etc.

let's say I have a monthly prescription that costs me out of pocket $35/month. I can put in $35/month and use that money to spend on the prescription?

If I'm a contractor, can't I write off medical expenses anyway?

*confused*

Responses:

no. -- nm - tRuMaN Nov 28, 06:20
IANAL but I'm pretty sure FSA/HSA/etc are not available for self-employed but only as part of an employee benefit package -- nm - oblique Nov 28, 06:16 5
- i guess contractor is a bit misleading.. i'm contracted out by the company that owns me - they provide (expensive) benefits... - colin Nov 28, 06:21 4
  - if you qualify for their medical plan, then you would qualify for an hsa for it was available. if you are self employed - tRuMaN Nov 28, 06:24
  - Maybe you'd qualify for an HSA if your plan is one of those high-deductable ones but I think that's it -- nm - oblique Nov 28, 06:22 2
    - ah. but still need to have a medical plan.. i can't just have an HSA. - colin Nov 28, 06:24 1
      - yes. -- nm - tRuMaN Nov 28, 06:25
the tough thing would be to find someone who's willing to administer it. I mean, you don't have a payroll service to do it for you, right? -- nm - amanda Nov 28, 06:12 1
- yeah, seems like more trouble than it's worth... -- nm - colin Nov 28, 06:22

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STIS: FSA/HSA - can you have one independent of a medical plan?

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