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Hawaii Form 8889: What You Should Know

You must have a high deductible health plan that qualifies as a qualified health plan for purposes of your coverage year. You need to have an HSA as the primary health care source you use as your only health coverage. Furthermore, you can choose to do both of this if eligible under section 223(b). Furthermore, you are enrolled full-time in an eligible employer health plan for which you provide health coverage, either during the year or subsequent years. Furthermore, you are covered by the plan from the start of your first health plan year through the end of the coverage year or until you retire or leave the plan, whichever occurs first. If you or your spouse was enrolled in the plan in a prior year, you must file Form 8889 by Oct. 15, 2022. If you were not enrolled in the plan during the year for which you are claiming credit, Form 8889 must be completed by Oct. 15, 2018.  (see chart, above) If you do not meet these requirements or there are other limitations, you may not be eligible for an HSA. Health Care Savings Accounts (HSA) Qualifying Insurance Plans for 2023 and Later If an HSA is used to qualify as a qualified health plan for your coverage year, you do not have to file Form 8889. You may continue making health care deductible contributions to an HSA until you file Form 8889, if you are otherwise eligible to do so. If you are covered under a group health plan with a high deductible health plan for a coverage year for which an HSA is used as a health coverage method, you may continue funding that health plan for the same coverage year or subsequent coverage years, if you would otherwise be able to use that same group health plan after the implementation of a qualified health plan with an HSA qualifying coverage year. After you use the HSA to pay the full cost of health insurance coverage, you are no longer eligible to use that high deductible health plan as long as you remain in the plan. (see chart above) If you do not meet this requirement or there are other limitations, you may not be eligible for an HSA. Employer Deductible Health Plan Deduction Employer health plans provide a deduction from the wages paid by the employer for each employee covered under the health plan (i.e., those employees who were enrolled in the plan either on your behalf or at the direction of someone who may be considered your spouse).

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