Save and pay for medical expenses and nursing home costs while reducing the amount of Idaho income tax you owe.
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Idaho Medical Savings Accounts

Save and pay for medical expenses and nursing home costs while reducing the amount of Idaho income tax you owe.



Save and pay for medical expenses and nursing home costs
while reducing the amount of Idaho income tax you owe.


Summary

•   Minimum opening deposit $   100.00
•   Monthly service charge 3.00
•   Average daily balance to avoid service charges 100.00

 

 

 

 

•   Earn interest at higher rate than regular savings

 

•   Transactions are limited to six (6) transfers per

 

    month by pre-authorized, automatic, computer

 

    or telephone transfer.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

More Information

  • Annual contribution limit is $2,000 a year; $4,000 if married filing jointly
  • Reimbursements that are redeposited into the MSA are not considered
    contributions
  • Contributions and interest earned are tax deductible
  • Account used to pay eligible medical, vision, dental expenses*, health insurance
    premiums, supplemental Medicare premiums and long-term care
* As defined by the Internal Revenue Code

 

 

 

 

 

 

 

 

 

 

 

 

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