Health Savings Account HSA CPA Exam Explained

A Health Savings Account (HSA) is like a personal savings account, but it can only be used for qualified healthcare expenses. To be eligible, you must be enrolled in a High-Deductible Health Plan (HDHP).
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[@sanjaymahurkar]

Great explanation on HSA

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[@sundeepkaur4258]

Hi Farhat! Thank you so much for this video. Can i just clarify the following:
Distributions for qualified medical expense = NOT included in gross income
Distributions for NO qualified medical expense = include in gross income + 20% penalty
Contributions HSA within limit 3850 single/ 7750 families = included in adjustments to arrive at AGI?
Contributions HSA in excess of limits above = DO NOT include within adjustments.

[@BluetoothDummy-m2c]

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