I have a client where the husband has an HSA at work and the wife has a VEBA health account at work. May they continue with both health programs or are they allowed to have only one?
Thank you.
Larry
Thank you.
Larry
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They can continue with both health programs.
A VEBA [Voluntary Employees' Benefit Association] is merely a vehicle used to provide tax-free monies to pay health expenses.
An HSA is essentially the same thing -- a vehicle used to provide tax-free monies to pay health expenses for individuals with a HDHP.
There is no restriction concerning having a VEBA while having an HSA; in fact it makes sound advice to do so.Just because I look dumb does not mean I am not. -
VEBA vs HSA
While I know nothing about VEBAs, here's a link of the one person in the U.S. who seems to continually advertise that he's an expert on the subject and written articles for just about every accountant/tax professional publication:
Uncle Sam, CPA, EA. ARA, NTPI FellowComment
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Thank you very much!
I appreciate your prompt replies.
Thanks again.
LarryComment
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